----------------------------------------------------------------------------------------------------------------------------
      name:  <unnamed>
       log:  D:\BCDVS_95_4_2013\codes\BCDVS_95_4_2013regressions.log
  log type:  text
 opened on:  28 Mar 2014, 18:29:15

. use "BCDVS_95_4_2013_estimation_data.dta", clear

. xtset identif year
       panel variable:  identif (weakly balanced)
        time variable:  year, 1995 to 2005
                delta:  1 unit

. 
. 
. ******************************************************************************
. *******************  PRELIMINARY STATISTICS (table1)    **********************
. *****************************************************************************
. 
. * we run the main regression to fix the sample size
. reg tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.pmr l.compindex y_* dummy* if tfpcorre
> ctedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, cl(country)

Linear regression                                      Number of obs =    1847
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2687
                                                       Root MSE      =  .06346

                                     (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------------
                   |               Robust
tfpcorrectedover~s |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0653297   .0232947     2.80   0.017     .0140584     .116601
                   |
     tecnogapklems |
               L1. |   .0074747   .0041321     1.81   0.098    -.0016199    .0165693
                   |
         ind_trend |   .0443503   .0051935     8.54   0.000     .0329194    .0557812
                   |
          tradelib |
               L1. |   .0143747   .0039662     3.62   0.004     .0056452    .0231042
                   |
               pmr |
               L1. |  -.0311823   .0196343    -1.59   0.141    -.0743971    .0120325
                   |
         compindex |
               L1. |   .0923923   .0242684     3.81   0.003     .0389778    .1458067
                   |
               y_1 |          0  (omitted)
               y_2 |          0  (omitted)
               y_3 |   .0046214   .0118498     0.39   0.704    -.0214599    .0307026
               y_4 |   -.019365    .013058    -1.48   0.166    -.0481055    .0093754
               y_5 |   .0064406   .0106323     0.61   0.557    -.0169609    .0298422
               y_6 |   .0080884   .0126233     0.64   0.535    -.0196953    .0358721
               y_7 |  -.0215382   .0116785    -1.84   0.092    -.0472425    .0041661
               y_8 |  -.0173579   .0162273    -1.07   0.308     -.053074    .0183582
               y_9 |  -.0141408   .0136065    -1.04   0.321    -.0440886     .015807
              y_10 |  -.0052702   .0148143    -0.36   0.729    -.0378762    .0273359
              y_11 |  -.0152022   .0156518    -0.97   0.352    -.0496516    .0192471
          dummy2_1 |   .1189292   .0240335     4.95   0.000     .0660317    .1718266
          dummy2_2 |   .0611799   .0237974     2.57   0.026     .0088021    .1135576
          dummy2_3 |   .1323339   .0216817     6.10   0.000     .0846128    .1800551
          dummy2_4 |   .1043631   .0227566     4.59   0.001     .0542761    .1544501
          dummy2_5 |    .126233    .022445     5.62   0.000     .0768318    .1756342
          dummy2_6 |   .1818628   .0223415     8.14   0.000     .1326894    .2310362
          dummy2_7 |   .1070565   .0211629     5.06   0.000     .0604773    .1536358
          dummy2_8 |    .126882   .0228797     5.55   0.000     .0765241    .1772398
          dummy2_9 |   .1034201   .0219772     4.71   0.001     .0550486    .1517916
         dummy2_10 |   .1249777   .0225328     5.55   0.000     .0753834    .1745719
         dummy2_11 |   .1409512   .0218996     6.44   0.000     .0927504     .189152
         dummy2_12 |   .1062311   .0226656     4.69   0.001     .0563445    .1561177
         dummy2_13 |    .092594   .0319832     2.90   0.015     .0221995    .1629886
         dummy2_14 |   .0956436   .0250921     3.81   0.003     .0404164    .1508709
         dummy2_15 |   .1290937   .0221972     5.82   0.000      .080238    .1779495
         dummy2_16 |   .1117781    .023341     4.79   0.001     .0604049    .1631512
         dummy2_17 |   .1360268   .0225741     6.03   0.000     .0863416    .1857121
         dummy2_18 |   .1329986   .0225554     5.90   0.000     .0833544    .1826428
         dummy2_19 |   .1504195   .0225958     6.66   0.000     .1006864    .2001526
         dummy2_20 |   .1222074   .0238193     5.13   0.000     .0697814    .1746333
         dummy2_21 |   .0929054   .0235142     3.95   0.002      .041151    .1446598
         dummy2_22 |   .1225276   .0223235     5.49   0.000     .0733939    .1716613
         dummy2_23 |    .217669   .0172563    12.61   0.000     .1796882    .2556497
         dummy2_24 |   .1390384   .0128706    10.80   0.000     .1107105    .1673663
         dummy2_25 |   .1407702   .0164121     8.58   0.000     .1046474    .1768929
         dummy2_26 |   .1763988    .013387    13.18   0.000     .1469343    .2058633
         dummy2_27 |   .2011848   .0165971    12.12   0.000     .1646548    .2377148
         dummy2_28 |   .1525507   .0141896    10.75   0.000     .1213196    .1837818
         dummy2_29 |   .1698101   .0136315    12.46   0.000     .1398073    .1998129
         dummy2_30 |   .1196431   .0121667     9.83   0.000     .0928643    .1464219
         dummy2_31 |    .178381   .0126055    14.15   0.000     .1506365    .2061255
         dummy2_32 |   .2090617   .0164602    12.70   0.000     .1728331    .2452903
         dummy2_33 |   .1442296   .0143321    10.06   0.000     .1126849    .1757744
         dummy2_34 |   .1945948   .0141908    13.71   0.000      .163361    .2258285
         dummy2_35 |   .1427996   .0137378    10.39   0.000     .1125629    .1730364
         dummy2_36 |   .1187144   .0135042     8.79   0.000     .0889919    .1484369
         dummy2_37 |   .1559362    .015102    10.33   0.000     .1226969    .1891755
         dummy2_38 |   .1703263    .017039    10.00   0.000     .1328237    .2078288
         dummy2_39 |   .1475911   .0180198     8.19   0.000     .1079299    .1872523
         dummy2_40 |   .1010951   .0180541     5.60   0.000     .0613583     .140832
         dummy2_41 |   .1415547   .0189962     7.45   0.000     .0997444     .183365
         dummy2_42 |   .1265587   .0189381     6.68   0.000     .0848762    .1682411
         dummy2_43 |   .1493058   .0168248     8.87   0.000     .1122748    .1863368
         dummy2_44 |   .1647287   .0181987     9.05   0.000     .1246735    .2047838
         dummy2_45 |   .1985918   .0166049    11.96   0.000     .1620446     .235139
         dummy2_46 |          0  (omitted)
         dummy2_47 |   .1477894   .0135506    10.91   0.000     .1179647    .1776141
         dummy2_48 |   .1848368    .012927    14.30   0.000     .1563847     .213289
         dummy2_49 |          0  (omitted)
         dummy2_50 |   .1741416   .0160665    10.84   0.000     .1387794    .2095037
         dummy2_51 |  -.0964264   .0132959    -7.25   0.000    -.1256905   -.0671622
         dummy2_52 |   .1444587   .0125818    11.48   0.000     .1167665     .172151
         dummy2_53 |   .2120297   .0141085    15.03   0.000      .180977    .2430824
         dummy2_54 |   .1652866   .0146485    11.28   0.000     .1330454    .1975277
         dummy2_55 |    .171444   .0144937    11.83   0.000     .1395437    .2033443
         dummy2_56 |   .2057855   .0123965    16.60   0.000      .178501    .2330699
         dummy2_57 |   .1807093   .0140624    12.85   0.000     .1497583    .2116604
         dummy2_58 |   .1280515   .0131117     9.77   0.000     .0991929    .1569102
         dummy2_59 |   .1883121   .0139174    13.53   0.000     .1576801     .218944
         dummy2_60 |   .2733262   .0163491    16.72   0.000      .237342    .3093103
         dummy2_61 |   .1709529    .016785    10.18   0.000     .1340093    .2078964
         dummy2_62 |   .1797998   .0157171    11.44   0.000     .1452066     .214393
         dummy2_63 |   .1619857   .0163489     9.91   0.000      .126002    .1979695
         dummy2_64 |   .2905002   .0175354    16.57   0.000      .251905    .3290954
         dummy2_65 |   .1434235   .0151939     9.44   0.000      .109982     .176865
         dummy2_66 |   .1700761   .0180966     9.40   0.000     .1302458    .2099064
         dummy2_67 |   .1726163   .0175923     9.81   0.000     .1338959    .2113366
         dummy2_68 |   .0511122    .020746     2.46   0.031     .0054505    .0967739
         dummy2_69 |   .1377907   .0165454     8.33   0.000     .1013745    .1742069
         dummy2_70 |   .1230988   .0160422     7.67   0.000     .0877903    .1584074
         dummy2_71 |   .1670463    .017253     9.68   0.000     .1290726    .2050199
         dummy2_72 |   .1423877   .0171708     8.29   0.000      .104595    .1801803
         dummy2_73 |   .0745779   .0183988     4.05   0.002     .0340824    .1150734
         dummy2_74 |   .1662086   .0165127    10.07   0.000     .1298644    .2025529
         dummy2_75 |   .1566912   .0169126     9.26   0.000     .1194668    .1939155
         dummy2_76 |   .1590611   .0176682     9.00   0.000     .1201737    .1979486
         dummy2_77 |   .1482626   .0168146     8.82   0.000      .111254    .1852712
         dummy2_78 |   .1497765   .0171074     8.76   0.000     .1121234    .1874296
         dummy2_79 |   .1661012   .0174426     9.52   0.000     .1277102    .2044922
         dummy2_80 |   .1600266   .0169065     9.47   0.000     .1228156    .1972376
         dummy2_81 |   .1315485   .0167992     7.83   0.000     .0945737    .1685234
         dummy2_82 |   .1791995   .0181353     9.88   0.000      .139284     .219115
         dummy2_83 |   .1484153   .0181783     8.16   0.000      .108405    .1884255
         dummy2_84 |   .1461717   .0175755     8.32   0.000     .1074882    .1848551
         dummy2_85 |   .1668943   .0179446     9.30   0.000     .1273985    .2063901
         dummy2_86 |      .2042   .0179744    11.36   0.000     .1646385    .2437614
         dummy2_87 |   .1215173   .0183575     6.62   0.000     .0811128    .1619218
         dummy2_88 |   .0808602    .017837     4.53   0.001     .0416013    .1201192
         dummy2_89 |   .2234333   .0172957    12.92   0.000     .1853657    .2615009
         dummy2_90 |   .0856274   .0379688     2.26   0.045     .0020586    .1691963
         dummy2_91 |    .106817   .0129374     8.26   0.000     .0783421    .1352919
         dummy2_92 |   .1937296   .0106508    18.19   0.000     .1702873    .2171719
         dummy2_93 |   .1846741   .0117444    15.72   0.000     .1588249    .2105232
         dummy2_94 |   .1886625    .011189    16.86   0.000     .1640355    .2132894
         dummy2_95 |   .3717906   .0118733    31.31   0.000     .3456577    .3979234
         dummy2_96 |   .1413623   .0110931    12.74   0.000     .1169466    .1657779
         dummy2_97 |   .2151361   .0104648    20.56   0.000     .1921032    .2381691
         dummy2_98 |   .1081095   .0130048     8.31   0.000     .0794862    .1367328
         dummy2_99 |   .0501908   .0105852     4.74   0.001     .0268929    .0734886
        dummy2_100 |   .2267809   .0135766    16.70   0.000     .1968989    .2566629
        dummy2_101 |   .1120603   .0151177     7.41   0.000     .0787864    .1453341
        dummy2_102 |  -.0611132   .0112464    -5.43   0.000    -.0858664   -.0363599
        dummy2_103 |   .2537106   .0109393    23.19   0.000     .2296334    .2777878
        dummy2_104 |   .1579043   .0154886    10.19   0.000     .1238143    .1919944
        dummy2_105 |   .1842842   .0173575    10.62   0.000     .1460807    .2224877
        dummy2_106 |   .1427311   .0166188     8.59   0.000     .1061535    .1793087
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .2122075   .0158803    13.36   0.000     .1772552    .2471599
        dummy2_110 |          0  (omitted)
        dummy2_111 |   .1756274   .0167049    10.51   0.000     .1388602    .2123946
        dummy2_112 |   .1189852   .0116623    10.20   0.000     .0933167    .1446537
        dummy2_113 |   .1432285   .0151943     9.43   0.000     .1097861    .1766708
        dummy2_114 |   .1420582   .0159652     8.90   0.000     .1069191    .1771974
        dummy2_115 |    .179795   .0160899    11.17   0.000     .1443813    .2152086
        dummy2_116 |   .1526991   .0161776     9.44   0.000     .1170923    .1883058
        dummy2_117 |   .0923975   .0154834     5.97   0.000     .0583186    .1264763
        dummy2_118 |   .1478852   .0133199    11.10   0.000     .1185684     .177202
        dummy2_119 |   .1610909   .0161551     9.97   0.000     .1255337     .196648
        dummy2_120 |   .1678568   .0169127     9.92   0.000     .1306322    .2050813
        dummy2_121 |   .1587148   .0156939    10.11   0.000     .1241727    .1932568
        dummy2_122 |   .1490598   .0157678     9.45   0.000     .1143552    .1837645
        dummy2_123 |   .1313574    .014573     9.01   0.000     .0992824    .1634324
        dummy2_124 |   .1219705   .0126386     9.65   0.000     .0941531    .1497879
        dummy2_125 |   .1654716   .0167189     9.90   0.000     .1286735    .2022698
        dummy2_126 |    .171345   .0170938    10.02   0.000     .1337218    .2089682
        dummy2_127 |   .1535206   .0176408     8.70   0.000     .1146934    .1923478
        dummy2_128 |   .1516746   .0172591     8.79   0.000     .1136875    .1896617
        dummy2_129 |   .1676485   .0179193     9.36   0.000     .1282084    .2070887
        dummy2_130 |   .2368514   .0178939    13.24   0.000     .1974673    .2762356
        dummy2_131 |   .1798398   .0169497    10.61   0.000     .1425337     .217146
        dummy2_132 |   .1745989   .0176273     9.91   0.000     .1358016    .2133963
        dummy2_133 |   .1168771   .0166048     7.04   0.000     .0803302    .1534241
        dummy2_134 |   .0142532   .0447231     0.32   0.756    -.0841818    .1126881
        dummy2_135 |   .0536401   .0116704     4.60   0.001     .0279539    .0793264
        dummy2_136 |   .0935753   .0169854     5.51   0.000     .0561908    .1309598
        dummy2_137 |   .1246214   .0180087     6.92   0.000     .0849845    .1642584
        dummy2_138 |    .105826   .0154516     6.85   0.000     .0718173    .1398346
        dummy2_139 |          0  (omitted)
        dummy2_140 |   .0910164   .0156624     5.81   0.000     .0565436    .1254892
        dummy2_141 |   .1511395   .0176477     8.56   0.000     .1122972    .1899819
        dummy2_142 |   .1388481   .0183939     7.55   0.000     .0983633    .1793329
        dummy2_143 |    .100804   .0130174     7.74   0.000     .0721529    .1294551
        dummy2_144 |   .1072666   .0139393     7.70   0.000     .0765863    .1379469
        dummy2_145 |   .0960232   .0104377     9.20   0.000     .0730499    .1189964
        dummy2_146 |   .1153859   .0143544     8.04   0.000     .0837921    .1469797
        dummy2_147 |   .1421344   .0179569     7.92   0.000     .1026114    .1816573
        dummy2_148 |   .1163299   .0145087     8.02   0.000     .0843966    .1482633
        dummy2_149 |  -.0066248   .0021164    -3.13   0.010     -.011283   -.0019667
        dummy2_150 |   .0871322   .0120422     7.24   0.000     .0606275    .1136369
        dummy2_151 |   .0648172   .0085174     7.61   0.000     .0460705    .0835639
        dummy2_152 |   .1233185   .0142552     8.65   0.000     .0919429     .154694
        dummy2_153 |   -.005458    .007559    -0.72   0.485    -.0220953    .0111794
        dummy2_154 |          0  (omitted)
        dummy2_155 |   .1188602   .0186507     6.37   0.000     .0778103    .1599101
        dummy2_156 |   .1551996    .021465     7.23   0.000     .1079556    .2024437
        dummy2_157 |   .1455029   .0169875     8.57   0.000     .1081136    .1828922
        dummy2_158 |   .0674338   .0241914     2.79   0.018     .0141889    .1206787
        dummy2_159 |   .1014429   .0169363     5.99   0.000     .0641664    .1387195
        dummy2_160 |   .1452358   .0178667     8.13   0.000     .1059116    .1845601
        dummy2_161 |     .24555   .0166009    14.79   0.000     .2090117    .2820884
        dummy2_162 |   .1542079   .0172859     8.92   0.000     .1161619    .1922538
        dummy2_163 |   .1169374    .016438     7.11   0.000     .0807576    .1531171
        dummy2_164 |   .1441538   .0180533     7.98   0.000     .1044188    .1838887
        dummy2_165 |   .1379699   .0172188     8.01   0.000     .1000716    .1758683
        dummy2_166 |   .1403003   .0168657     8.32   0.000     .1031791    .1774216
        dummy2_167 |  -.0011443   .0402661    -0.03   0.978    -.0897694    .0874808
        dummy2_168 |   .1024022   .0200433     5.11   0.000     .0582871    .1465173
        dummy2_169 |    .138318   .0181067     7.64   0.000     .0984654    .1781707
        dummy2_170 |   .1813062   .0195047     9.30   0.000     .1383766    .2242357
        dummy2_171 |   .1332792   .0189663     7.03   0.000     .0915346    .1750239
        dummy2_172 |   .1311321   .0185757     7.06   0.000     .0902473    .1720168
        dummy2_173 |   .1483714   .0190538     7.79   0.000     .1064343    .1903085
        dummy2_174 |   .2206667   .0201352    10.96   0.000     .1763495    .2649839
        dummy2_175 |    .147553   .0188639     7.82   0.000     .1060338    .1890722
        dummy2_176 |   .1325777   .0187289     7.08   0.000     .0913557    .1737997
        dummy2_177 |   .1594273   .0170832     9.33   0.000     .1218275    .1970271
        dummy2_178 |   .0360241   .0316631     1.14   0.279     -.033666    .1057141
        dummy2_179 |   .1828636   .0140066    13.06   0.000     .1520354    .2136918
        dummy2_180 |   .1626434   .0135966    11.96   0.000     .1327175    .1925694
        dummy2_181 |     .12955   .0148422     8.73   0.000     .0968825    .1622175
        dummy2_182 |   .1802546   .0151261    11.92   0.000     .1469622     .213547
        dummy2_183 |   .1285558   .0120694    10.65   0.000     .1019912    .1551203
        dummy2_184 |   .1364198   .0136225    10.01   0.000      .106437    .1664026
        dummy2_185 |   .1667466    .014275    11.68   0.000     .1353275    .1981657
        dummy2_186 |   .1669149   .0156714    10.65   0.000     .1324225    .2014073
        dummy2_187 |   .1742947   .0148291    11.75   0.000     .1416561    .2069334
        dummy2_188 |   .1407465   .0125793    11.19   0.000     .1130596    .1684333
        dummy2_189 |   .1384751   .0135142    10.25   0.000     .1087306    .1682197
        dummy2_190 |   .1098622   .0128196     8.57   0.000     .0816465    .1380779
        dummy2_191 |   .1481692   .0153376     9.66   0.000     .1144113    .1819271
        dummy2_192 |   .1945546   .0173449    11.22   0.000     .1563786    .2327305
        dummy2_193 |   .1495892   .0166057     9.01   0.000     .1130402    .1861381
        dummy2_194 |   .1381442   .0161768     8.54   0.000     .1025392    .1737491
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |   .2163637   .0158201    13.68   0.000     .1815439    .2511834
        dummy2_198 |   .1555405   .0162528     9.57   0.000     .1197683    .1913127
        dummy2_199 |    .138982   .0189259     7.34   0.000     .0973264    .1806376
        dummy2_200 |    .029866   .0255859     1.17   0.268    -.0264481    .0861801
        dummy2_201 |   .1033659   .0171418     6.03   0.000      .065637    .1410948
        dummy2_202 |   .0404287   .0239559     1.69   0.120    -.0122979    .0931553
        dummy2_203 |   .1597513    .018341     8.71   0.000      .119383    .2001196
        dummy2_204 |   .1276378   .0184032     6.94   0.000     .0871326     .168143
        dummy2_205 |   .0811832   .0154597     5.25   0.000     .0471567    .1152097
        dummy2_206 |   .1013732   .0166459     6.09   0.000     .0647357    .1380107
        dummy2_207 |   .1134164   .0167575     6.77   0.000     .0765334    .1502993
        dummy2_208 |   .1332746   .0178801     7.45   0.000     .0939207    .1726284
        dummy2_209 |   .0987409   .0172766     5.72   0.000     .0607154    .1367663
        dummy2_210 |   .1258748   .0171148     7.35   0.000     .0882054    .1635441
        dummy2_211 |   .2100899   .0186569    11.26   0.000     .1690264    .2511533
        dummy2_212 |   .1330886   .0176318     7.55   0.000     .0942813    .1718959
        dummy2_213 |   .1614695   .0176858     9.13   0.000     .1225433    .2003957
        dummy2_214 |   .1126453   .0187128     6.02   0.000     .0714587    .1538319
        dummy2_215 |   .1205418   .0187939     6.41   0.000     .0791767    .1619069
        dummy2_216 |   .1378121   .0182747     7.54   0.000     .0975897    .1780344
        dummy2_217 |   .1228871   .0186534     6.59   0.000     .0818312    .1639431
        dummy2_218 |   .1604915    .018593     8.63   0.000     .1195686    .2014144
        dummy2_219 |   .1121739    .018219     6.16   0.000     .0720742    .1522736
        dummy2_220 |   .1132461   .0184551     6.14   0.000     .0726266    .1538656
        dummy2_221 |   .1346994   .0272237     4.95   0.000     .0747804    .1946184
        dummy2_222 |    .098206   .0269325     3.65   0.004     .0389279    .1574841
        dummy2_223 |   .1170974   .0255803     4.58   0.001     .0607955    .1733994
        dummy2_224 |   .1181922   .0261261     4.52   0.001     .0606891    .1756953
        dummy2_225 |    .109279   .0255951     4.27   0.001     .0529445    .1656135
        dummy2_226 |   .1257521   .0259717     4.84   0.001     .0685886    .1829155
        dummy2_227 |   .0984096   .0258518     3.81   0.003     .0415102     .155309
        dummy2_228 |   .1170664   .0266725     4.39   0.001     .0583607    .1757722
        dummy2_229 |   .1200376   .0258273     4.65   0.001      .063192    .1768831
        dummy2_230 |   .1493355   .0264939     5.64   0.000     .0910228    .2076482
        dummy2_231 |   .1408464   .0256528     5.49   0.000      .084385    .1973079
        dummy2_232 |   .1316524   .0256081     5.14   0.000     .0752893    .1880155
        dummy2_233 |   .1089987      .0279     3.91   0.002     .0475913    .1704062
        dummy2_234 |   .1113003   .0265379     4.19   0.002     .0528906    .1697099
        dummy2_235 |   .1117847   .0260054     4.30   0.001     .0545472    .1690223
        dummy2_236 |   .1369045   .0268931     5.09   0.000     .0777133    .1960958
        dummy2_237 |   .1364737   .0265661     5.14   0.000     .0780022    .1949453
        dummy2_238 |   .1279841    .026111     4.90   0.000     .0705142     .185454
        dummy2_239 |   .1518547   .0262013     5.80   0.000     .0941859    .2095234
        dummy2_240 |    .182946   .0263634     6.94   0.000     .1249205    .2409716
        dummy2_241 |    .133671   .0278496     4.80   0.001     .0723745    .1949675
        dummy2_242 |   .1286169   .0260951     4.93   0.000     .0711821    .1860517
        dummy2_243 |   .1417117   .0245817     5.76   0.000     .0876079    .1958156
        dummy2_244 |   .0692437   .0249329     2.78   0.018     .0143667    .1241208
        dummy2_245 |   .1334718   .0233321     5.72   0.000     .0821182    .1848254
        dummy2_246 |   .1476963   .0231354     6.38   0.000     .0967756    .1986171
        dummy2_247 |   .1232533   .0234255     5.26   0.000      .071694    .1748126
        dummy2_248 |   .1479951   .0235696     6.28   0.000     .0961188    .1998714
        dummy2_249 |   .1941942   .0245087     7.92   0.000     .1402509    .2481376
        dummy2_250 |   .1164075   .0246687     4.72   0.001     .0621121     .170703
        dummy2_251 |   .1491108   .0233389     6.39   0.000     .0977423    .2004794
        dummy2_252 |   .1398098   .0238298     5.87   0.000     .0873608    .1922589
        dummy2_253 |    .147767    .023196     6.37   0.000     .0967129     .198821
        dummy2_254 |   .1448682   .0231807     6.25   0.000     .0938478    .1958887
        dummy2_255 |    .235849   .0246221     9.58   0.000     .1816562    .2900419
        dummy2_256 |   .1623926   .0235574     6.89   0.000     .1105432    .2142421
        dummy2_257 |   .1480697   .0232082     6.38   0.000     .0969888    .1991506
        dummy2_258 |   .1227772    .024762     4.96   0.000     .0682765     .177278
        dummy2_259 |   .0995911   .0237787     4.19   0.002     .0472545    .1519277
        dummy2_260 |   .1212985   .0235489     5.15   0.000     .0694679    .1731292
        dummy2_261 |   .1339462   .0234738     5.71   0.000     .0822807    .1856117
        dummy2_262 |   .1371247   .0236605     5.80   0.000     .0850482    .1892012
        dummy2_263 |   .1112304   .0261628     4.25   0.001     .0536464    .1688145
        dummy2_264 |   .1084344   .0232862     4.66   0.001     .0571818    .1596871
             _cons |  -.1360767   .0537107    -2.53   0.028    -.2542931   -.0178603
------------------------------------------------------------------------------------

. estpost summarize tfpcorrectedoverklems tfpleadershipklems tecnogapklems rdklems3 HHS tradelib pmr compindex CPIequalw ins
> t enf antitrust mergers enfocontrcost ruleoflaw _2 per403 per404 per505 if e(sample)

             |  e(count)   e(sum_w)    e(mean)     e(Var)      e(sd)     e(min)     e(max)     e(sum) 
-------------+----------------------------------------------------------------------------------------
tfpco~rklems |      1847       1847   .0095148   .0047019   .0685702  -.2817615   .2726845   17.57381 
tfpleaders~s |      1847       1847   .0153649   .0086699    .093112  -.7863408   .6245906   28.37896 
tecnogapkl~s |      1847       1847   .6888958   .4503073   .6710494          0   5.606259   1272.391 
    rdklems3 |      1303       1303   .0264403   .0035609   .0596735          0   .3921032   34.45173 
         HHS |      1783       1783   .1170669   .0095599   .0977746   .0057672   .5588014   208.7303 
    tradelib |      1727       1727   1.003659   3.367631   1.835111          0   17.27851   1733.319 
         pmr |      1847       1847   1.672368   .2732189   .5227034      .9234     3.0336   3088.864 
   compindex |      1847       1847    .497614   .0104077   .1020184      .3167      .7035    919.093 
   CPIequalw |      1847       1847   .4326899   .0105683   .1028021    .224018   .6773496   799.1782 
        inst |      1847       1847   .6047793   .0123934   .1113256      .3513      .7735   1117.027 
         enf |      1847       1847   .2803174   .0252453   .1588878      .0499      .7513   517.7462 
   antitrust |      1847       1847   .5023682   .0106632   .1032628      .3292      .7047   927.8741 
     mergers |      1847       1847    .483354   .0129684   .1138787      .1372      .6999   892.7548 
enfocontrc~t |      1847       1847   22.14613   67.95141   8.243265        9.4       33.5    40903.9 
   ruleoflaw |      1847       1847   1.425994   .1715803   .4142226   .5250663   1.880065   2633.812 
          _2 |      1847       1847   8.146727   1.135607   1.065648   5.566667    9.62463      15047 
      per403 |      1825       1825     1.3762   1.579919   1.256948          0   5.500672   2511.566 
      per404 |      1825       1825   .3350491   .3891233   .6237975          0   2.697095   611.4646 
      per505 |      1825       1825   .5263546   .3225054   .5678956          0   1.963721   960.5971 

. esttab . using BCDVS_95_4_2013tables, cells("mean sd min max") replace nonumbers label width(0.8\hsize) csv
(output written to BCDVS_95_4_2013tables.csv)

. 
. reg LPgrowth labourproductivityleaderklems l.tecnogapklemsLP ind_trend l.tradelib l.pmr l.compindex y_* dummy* if LPgrowth
> >-0.282 & LPgrowth<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, cl(country)

Linear regression                                      Number of obs =    1863
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2718
                                                       Root MSE      =  .06701

                                                (Std. Err. adjusted for 12 clusters in country)
-----------------------------------------------------------------------------------------------
                              |               Robust
                     LPgrowth |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
------------------------------+----------------------------------------------------------------
labourproductivityleaderklems |  -.3650757   .1727999    -2.11   0.058    -.7454056    .0152543
                              |
              tecnogapklemsLP |
                          L1. |   .0102481   .0020624     4.97   0.000     .0057087    .0147874
                              |
                    ind_trend |   .0623073   .0048785    12.77   0.000     .0515698    .0730449
                              |
                     tradelib |
                          L1. |   .0217067   .0090705     2.39   0.036     .0017427    .0416707
                              |
                          pmr |
                          L1. |  -.0150629   .0162871    -0.92   0.375    -.0509105    .0207848
                              |
                    compindex |
                          L1. |   .0846184   .0229519     3.69   0.004     .0341016    .1351351
                              |
                          y_1 |          0  (omitted)
                          y_2 |          0  (omitted)
                          y_3 |  -.0031372   .0166113    -0.19   0.854    -.0396983     .033424
                          y_4 |  -.0164146   .0137712    -1.19   0.258    -.0467248    .0138956
                          y_5 |   .0095945   .0102048     0.94   0.367     -.012866     .032055
                          y_6 |   .0165307    .011864     1.39   0.191    -.0095817    .0426432
                          y_7 |   -.015073   .0111715    -1.35   0.204    -.0396613    .0095152
                          y_8 |  -.0119911   .0149306    -0.80   0.439     -.044853    .0208709
                          y_9 |  -.0076735     .01274    -0.60   0.559     -.035714     .020367
                         y_10 |  -.0008643   .0142341    -0.06   0.953    -.0321934    .0304647
                         y_11 |  -.0101946   .0139707    -0.73   0.481    -.0409439    .0205547
                     dummy2_1 |    .816733   .1503841     5.43   0.000     .4857397    1.147726
                     dummy2_2 |   .7584905    .143805     5.27   0.000     .4419778    1.075003
                     dummy2_3 |   .7940183   .1485591     5.34   0.000     .4670418    1.120995
                     dummy2_4 |    .748694    .142283     5.26   0.000     .4355313    1.061857
                     dummy2_5 |   .8121256   .1532933     5.30   0.000     .4747293    1.149522
                     dummy2_6 |   .7974485   .1502584     5.31   0.000     .4667321    1.128165
                     dummy2_7 |   .5608127   .1111001     5.05   0.000     .3162831    .8053422
                     dummy2_8 |    .797596   .1385737     5.76   0.000     .4925973    1.102595
                     dummy2_9 |   .7801715   .1457969     5.35   0.000     .4592747    1.101068
                    dummy2_10 |   .7967203   .1469727     5.42   0.000     .4732356    1.120205
                    dummy2_11 |   .7978463   .1475032     5.41   0.000     .4731941    1.122499
                    dummy2_12 |   .7759897   .1365928     5.68   0.000      .475351    1.076628
                    dummy2_13 |   .8522175   .1267693     6.72   0.000     .5732002    1.131235
                    dummy2_14 |   .7684491   .1399184     5.49   0.000     .4604908    1.076407
                    dummy2_15 |   .7882996   .1453252     5.42   0.000      .468441    1.108158
                    dummy2_16 |   .7928987   .1524969     5.20   0.000     .4572553    1.128542
                    dummy2_17 |   .8069408   .1534766     5.26   0.000      .469141    1.144741
                    dummy2_18 |   .7639649   .1486572     5.14   0.000     .4367726    1.091157
                    dummy2_19 |   .8131465    .152802     5.32   0.000     .4768317    1.149461
                    dummy2_20 |   .8274487   .1504783     5.50   0.000     .4962483    1.158649
                    dummy2_21 |   .7858631    .151703     5.18   0.000     .4519671    1.119759
                    dummy2_22 |   .7787644   .1481682     5.26   0.000     .4526483    1.104881
                    dummy2_23 |   .8727165   .1635166     5.34   0.000     .5128188    1.232614
                    dummy2_24 |   .5322718   .1082302     4.92   0.000     .2940588    .7704849
                    dummy2_25 |    .798015   .1596487     5.00   0.000     .4466307    1.149399
                    dummy2_26 |   .8070685   .1518589     5.31   0.000     .4728292    1.141308
                    dummy2_27 |   .8443984   .1612714     5.24   0.000     .4894424    1.199354
                    dummy2_28 |   .7773315   .1564007     4.97   0.000      .433096    1.121567
                    dummy2_29 |   .7747092   .1415293     5.47   0.000     .4632054    1.086213
                    dummy2_30 |   .7735662   .1472305     5.25   0.000     .4495141    1.097618
                    dummy2_31 |    .861934   .1528928     5.64   0.000     .5254192    1.198449
                    dummy2_32 |   .8701335   .1624391     5.36   0.000     .5126074    1.227659
                    dummy2_33 |   .7796113   .1567526     4.97   0.000     .4346012    1.124621
                    dummy2_34 |   .8314141   .1552594     5.35   0.000     .4896904    1.173138
                    dummy2_35 |   .7959214   .1414688     5.63   0.000     .4845507    1.107292
                    dummy2_36 |   .8292365   .1525549     5.44   0.000     .4934655    1.165007
                    dummy2_37 |   .7903703   .1566845     5.04   0.000       .44551    1.135231
                    dummy2_38 |   .8221277    .161898     5.08   0.000     .4657927    1.178463
                    dummy2_39 |   .8123293    .165941     4.90   0.000     .4470955    1.177563
                    dummy2_40 |   .7413461   .1655544     4.48   0.001     .3769634    1.105729
                    dummy2_41 |   .8193968   .1671775     4.90   0.000     .4514415    1.187352
                    dummy2_42 |   .9041782     .16597     5.45   0.000     .5388808    1.269476
                    dummy2_43 |   .8384693   .1653008     5.07   0.000     .4746447    1.202294
                    dummy2_44 |   .8113062   .1648932     4.92   0.000     .4483787    1.174234
                    dummy2_45 |   .8914804   .1620475     5.50   0.000     .5348162    1.248145
                    dummy2_46 |          0  (omitted)
                    dummy2_47 |   .8144685    .158874     5.13   0.000     .4647892    1.164148
                    dummy2_48 |   .8192673   .1510098     5.43   0.000     .4868969    1.151638
                    dummy2_49 |          0  (omitted)
                    dummy2_50 |   .8297077   .1606145     5.17   0.000     .4761977    1.183218
                    dummy2_51 |   .5642679   .1563305     3.61   0.004     .2201867    .9083491
                    dummy2_52 |   .7972397   .1535891     5.19   0.000     .4591924    1.135287
                    dummy2_53 |   .8560516   .1595037     5.37   0.000     .5049863    1.207117
                    dummy2_54 |   .8259752   .1608535     5.13   0.000      .471939    1.180011
                    dummy2_55 |   .8121665   .1599632     5.08   0.000     .4600898    1.164243
                    dummy2_56 |   .8606739   .1554201     5.54   0.000     .5185964    1.202751
                    dummy2_57 |    .862913   .1525646     5.66   0.000     .5271206    1.198705
                    dummy2_58 |   .8000815   .1526022     5.24   0.000     .4642064    1.135957
                    dummy2_59 |   .8640398   .1571863     5.50   0.000     .5180749    1.210005
                    dummy2_60 |    .916908   .1634699     5.61   0.000     .5571132    1.276703
                    dummy2_61 |   .8309733    .164782     5.04   0.000     .4682905    1.193656
                    dummy2_62 |   .8329014   .1643233     5.07   0.000     .4712282    1.194575
                    dummy2_63 |   .8114618    .164648     4.93   0.000     .4490741    1.173849
                    dummy2_64 |   .9955425   .1638279     6.08   0.000     .6349597    1.356125
                    dummy2_65 |   .8623777   .1644787     5.24   0.000     .5003625    1.224393
                    dummy2_66 |   .8494216   .1644725     5.16   0.000     .4874202    1.211423
                    dummy2_67 |   .8500402   .1559928     5.45   0.000     .5067024    1.193378
                    dummy2_68 |   .5957928   .1094633     5.44   0.000     .3548656      .83672
                    dummy2_69 |   .7998649   .1554445     5.15   0.000     .4577339    1.141996
                    dummy2_70 |   .7830772   .1432786     5.47   0.000     .4677231    1.098431
                    dummy2_71 |   .8439371   .1581287     5.34   0.000     .4958982    1.191976
                    dummy2_72 |   .8262415   .1585641     5.21   0.000     .4772444    1.175239
                    dummy2_73 |   .6783171   .1315935     5.15   0.000     .3886817    .9679525
                    dummy2_74 |   .8509522   .1542008     5.52   0.000     .5115585    1.190346
                    dummy2_75 |   .8305558    .158022     5.26   0.000     .4827518     1.17836
                    dummy2_76 |   .8393698   .1589107     5.28   0.000     .4896097     1.18913
                    dummy2_77 |   .8184599   .1579487     5.18   0.000     .4708173    1.166103
                    dummy2_78 |   .8233615   .1584709     5.20   0.000     .4745695    1.172154
                    dummy2_79 |   .8433678   .1531604     5.51   0.000     .5062639    1.180472
                    dummy2_80 |   .8291474   .1554602     5.33   0.000     .4869819    1.171313
                    dummy2_81 |   .8040371    .155496     5.17   0.000     .4617927    1.146281
                    dummy2_82 |    .892035   .1596647     5.59   0.000     .5406155    1.243455
                    dummy2_83 |   .8257746   .1612985     5.12   0.000     .4707589     1.18079
                    dummy2_84 |     .80847   .1596875     5.06   0.000     .4570002     1.15994
                    dummy2_85 |   .8517869   .1609058     5.29   0.000     .4976356    1.205938
                    dummy2_86 |   .9043441   .1608068     5.62   0.000     .5504107    1.258277
                    dummy2_87 |    .814073   .1598478     5.09   0.000     .4622503    1.165896
                    dummy2_88 |   .8049474    .161538     4.98   0.000     .4494046     1.16049
                    dummy2_89 |   .8597018   .1642531     5.23   0.000     .4981831     1.22122
                    dummy2_90 |          0  (omitted)
                    dummy2_91 |   .7567579    .157341     4.81   0.001     .4104526    1.103063
                    dummy2_92 |    .797494   .1437274     5.55   0.000      .481152    1.113836
                    dummy2_93 |   .8547939   .1538736     5.56   0.000     .5161205    1.193467
                    dummy2_94 |   .8236994   .1531676     5.38   0.000     .4865798    1.160819
                    dummy2_95 |   .9632259   .1549291     6.22   0.000     .6222292    1.304223
                    dummy2_96 |   .8008468   .1458743     5.49   0.000     .4797797    1.121914
                    dummy2_97 |   .7957892    .146639     5.43   0.000     .4730388     1.11854
                    dummy2_98 |   .7838405   .1577287     4.97   0.000     .4366819    1.130999
                    dummy2_99 |   .7611177   .1478789     5.15   0.000     .4356385    1.086597
                   dummy2_100 |   .8738038   .1384165     6.31   0.000      .569151    1.178457
                   dummy2_101 |   .8177429   .1353569     6.04   0.000     .5198243    1.115661
                   dummy2_102 |    .785586   .1471102     5.34   0.000     .4617987    1.109373
                   dummy2_103 |   .8127554   .1464506     5.55   0.000     .4904197    1.135091
                   dummy2_104 |   .7987369    .155763     5.13   0.000     .4559049    1.141569
                   dummy2_105 |    .825436   .1641665     5.03   0.000     .4641079    1.186764
                   dummy2_106 |     .79008   .1622509     4.87   0.000     .4329681    1.147192
                   dummy2_107 |          0  (omitted)
                   dummy2_108 |          0  (omitted)
                   dummy2_109 |   .8851492   .1650374     5.36   0.000     .5219042    1.248394
                   dummy2_110 |          0  (omitted)
                   dummy2_111 |   .8144308   .1619615     5.03   0.000     .4579559    1.170906
                   dummy2_112 |   .7153924   .1368735     5.23   0.000     .4141359    1.016649
                   dummy2_113 |   .7816078   .1593286     4.91   0.000     .4309279    1.132288
                   dummy2_114 |   .7943496   .1618523     4.91   0.000     .4381152    1.150584
                   dummy2_115 |   .8188245   .1612843     5.08   0.000     .4638401    1.173809
                   dummy2_116 |    .812672   .1621952     5.01   0.000     .4556828    1.169661
                   dummy2_117 |   .7336594    .153834     4.77   0.001     .3950731    1.072246
                   dummy2_118 |   .7992407   .1551432     5.15   0.000     .4577728    1.140709
                   dummy2_119 |    .810636   .1626957     4.98   0.000     .4525453    1.168727
                   dummy2_120 |   .8269052   .1637698     5.05   0.000     .4664503     1.18736
                   dummy2_121 |   .8017199   .1613749     4.97   0.000     .4465362    1.156904
                   dummy2_122 |   .7980628   .1618216     4.93   0.000     .4418958     1.15423
                   dummy2_123 |   .7867107   .1557568     5.05   0.000     .4438924    1.129529
                   dummy2_124 |    .764209   .1514042     5.05   0.000     .4309705    1.097448
                   dummy2_125 |    .808263   .1624062     4.98   0.000     .4508094    1.165717
                   dummy2_126 |   .8702915   .1654954     5.26   0.000     .5060385    1.234544
                   dummy2_127 |   .8120984   .1662994     4.88   0.000     .4460759    1.178121
                   dummy2_128 |   .7993504   .1648434     4.85   0.001     .4365325    1.162168
                   dummy2_129 |   .8225588   .1661657     4.95   0.000     .4568306    1.188287
                   dummy2_130 |   .9225499   .1649105     5.59   0.000     .5595844    1.285515
                   dummy2_131 |    .845167   .1668473     5.07   0.000     .4779386    1.212395
                   dummy2_132 |   .8264049   .1662082     4.97   0.000     .4605831    1.192227
                   dummy2_133 |   .7802051   .1541487     5.06   0.000     .4409262    1.119484
                   dummy2_134 |   .5035777   .0962985     5.23   0.000     .2916261    .7155292
                   dummy2_135 |   .7225638   .1563659     4.62   0.001     .3784047    1.066723
                   dummy2_136 |   .7636149   .1505136     5.07   0.000     .4323367    1.094893
                   dummy2_137 |   .7794714   .1536442     5.07   0.000     .4413029     1.11764
                   dummy2_138 |   .7625391   .1576435     4.84   0.001      .415568     1.10951
                   dummy2_139 |          0  (omitted)
                   dummy2_140 |   .7889962   .1568109     5.03   0.000     .4438578    1.134135
                   dummy2_141 |   .8117333   .1582431     5.13   0.000     .4634426    1.160024
                   dummy2_142 |   .8269862   .1580806     5.23   0.000     .4790531    1.174919
                   dummy2_143 |   .7489077   .1574554     4.76   0.001     .4023507    1.095465
                   dummy2_144 |   .7695724   .1574881     4.89   0.000     .4229435    1.116201
                   dummy2_145 |   .7589994   .1549073     4.90   0.000     .4180507    1.099948
                   dummy2_146 |   .7761133   .1573665     4.93   0.000      .429752    1.122475
                   dummy2_147 |   .8101336   .1548835     5.23   0.000     .4692373     1.15103
                   dummy2_148 |   .8224043   .1587523     5.18   0.000     .4729929    1.171816
                   dummy2_149 |   .5957006   .1573802     3.79   0.003      .249309    .9420922
                   dummy2_150 |   .7237107   .1564258     4.63   0.001     .3794198    1.068002
                   dummy2_151 |   .6865824   .1576008     4.36   0.001     .3397053     1.03346
                   dummy2_152 |   .8513694   .1583738     5.38   0.000     .5027909    1.199948
                   dummy2_153 |    .673811   .1574234     4.28   0.001     .3273243    1.020298
                   dummy2_154 |   .5937159   .1556803     3.81   0.003      .251066    .9363658
                   dummy2_155 |   .8257965   .1535511     5.38   0.000     .4878328     1.16376
                   dummy2_156 |          0  (omitted)
                   dummy2_157 |   .8165654   .1527262     5.35   0.000     .4804174    1.152713
                   dummy2_158 |   .6970433    .129378     5.39   0.000     .4122843    .9818023
                   dummy2_159 |   .7566302   .1452085     5.21   0.000     .4370285    1.076232
                   dummy2_160 |   .8258419   .1549079     5.33   0.000     .4848918    1.166792
                   dummy2_161 |   .8205695   .1359262     6.04   0.000     .5213981    1.119741
                   dummy2_162 |   .8455076     .14723     5.74   0.000     .5214565    1.169559
                   dummy2_163 |    .787318   .1463939     5.38   0.000     .4651071    1.109529
                   dummy2_164 |   .8174602    .153208     5.34   0.000     .4802517    1.154669
                   dummy2_165 |   .8148383   .1509071     5.40   0.000     .4826939    1.146983
                   dummy2_166 |   .7669217   .1478079     5.19   0.000     .4415988    1.092245
                   dummy2_167 |   .5548188    .118984     4.66   0.001     .2929369    .8167008
                   dummy2_168 |    .734514   .1342019     5.47   0.000     .4391376     1.02989
                   dummy2_169 |   .8153887   .1538297     5.30   0.000     .4768118    1.153966
                   dummy2_170 |   .8822107   .1581125     5.58   0.000     .5342075    1.230214
                   dummy2_171 |   .8055178     .15967     5.04   0.000     .4540864    1.156949
                   dummy2_172 |   .7929566   .1585807     5.00   0.000     .4439228     1.14199
                   dummy2_173 |   .8211348   .1595974     5.15   0.000     .4698633    1.172406
                   dummy2_174 |   .8948199   .1594382     5.61   0.000     .5438988    1.245741
                   dummy2_175 |   .8583124   .1593518     5.39   0.000     .5075815    1.209043
                   dummy2_176 |   .8176989   .1586702     5.15   0.000     .4684682     1.16693
                   dummy2_177 |   .8722131   .1603102     5.44   0.000     .5193727    1.225053
                   dummy2_178 |   .5746995   .1074602     5.35   0.000     .3381811    .8112178
                   dummy2_179 |   .8292047   .1575989     5.26   0.000     .4823319    1.176077
                   dummy2_180 |   .8065322   .1548493     5.21   0.000     .4657112    1.147353
                   dummy2_181 |   .8160116   .1585727     5.15   0.000     .4669954    1.165028
                   dummy2_182 |   .8641979   .1603563     5.39   0.000     .5112561     1.21714
                   dummy2_183 |   .8487937   .1543439     5.50   0.000     .5090851    1.188502
                   dummy2_184 |   .8355156   .1514941     5.52   0.000     .5020793    1.168952
                   dummy2_185 |   .8539312   .1579812     5.41   0.000      .506217    1.201645
                   dummy2_186 |   .8508433   .1617177     5.26   0.000      .494905    1.206782
                   dummy2_187 |    .851347   .1591508     5.35   0.000     .5010585    1.201635
                   dummy2_188 |   .8105635   .1524485     5.32   0.000     .4750266      1.1461
                   dummy2_189 |   .7924443   .1453582     5.45   0.000     .4725131    1.112376
                   dummy2_190 |   .7959228   .1473096     5.40   0.000     .4716965    1.120149
                   dummy2_191 |   .7993504   .1584446     5.04   0.000     .4506162    1.148085
                   dummy2_192 |     .93578   .1632001     5.73   0.000     .5765789    1.294981
                   dummy2_193 |   .8645916   .1630313     5.30   0.000     .5057621    1.223421
                   dummy2_194 |   .8559061   .1635585     5.23   0.000     .4959163    1.215896
                   dummy2_195 |          0  (omitted)
                   dummy2_196 |          0  (omitted)
                   dummy2_197 |   .8723753   .1634531     5.34   0.000     .5126175    1.232133
                   dummy2_198 |   .8233868   .1624125     5.07   0.000     .4659193    1.180854
                   dummy2_199 |   .8247031   .1574801     5.24   0.000     .4780917    1.171315
                   dummy2_200 |    .569986   .1072319     5.32   0.000     .3339703    .8060017
                   dummy2_201 |   .7951947   .1546263     5.14   0.000     .4548644    1.135525
                   dummy2_202 |    .677937   .1309277     5.18   0.000     .3897671     .966107
                   dummy2_203 |   .8332687   .1584305     5.26   0.000     .4845656    1.181972
                   dummy2_204 |   .8226934   .1594856     5.16   0.000     .4716679    1.173719
                   dummy2_205 |   .7809053    .134451     5.81   0.000     .4849808     1.07683
                   dummy2_206 |   .8397926   .1533577     5.48   0.000     .5022546    1.177331
                   dummy2_207 |   .7827165   .1515952     5.16   0.000     .4490577    1.116375
                   dummy2_208 |   .8008456   .1547684     5.17   0.000     .4602027    1.141488
                   dummy2_209 |   .7876394   .1551869     5.08   0.000     .4460753    1.129203
                   dummy2_210 |   .8006751   .1536289     5.21   0.000     .4625402     1.13881
                   dummy2_211 |   .8695298   .1403992     6.19   0.000     .5605132    1.178546
                   dummy2_212 |   .8372754   .1520469     5.51   0.000     .5026224    1.171928
                   dummy2_213 |    .803709   .1512672     5.31   0.000     .4707721    1.136646
                   dummy2_214 |   .8131644   .1597382     5.09   0.000     .4615829    1.164746
                   dummy2_215 |    .790424   .1605166     4.92   0.000     .4371293    1.143719
                   dummy2_216 |   .8051546   .1597221     5.04   0.000     .4536086    1.156701
                   dummy2_217 |   .8186565   .1611156     5.08   0.000     .4640433     1.17327
                   dummy2_218 |   .8884682   .1585821     5.60   0.000     .5394313    1.237505
                   dummy2_219 |   .8301505   .1608997     5.16   0.000     .4760127    1.184288
                   dummy2_220 |   .7992194   .1603732     4.98   0.000     .4462404    1.152198
                   dummy2_221 |   .8163895   .1493006     5.47   0.000     .4877812    1.144998
                   dummy2_222 |   .8117372   .1504326     5.40   0.000     .4806372    1.142837
                   dummy2_223 |   .8065555   .1503864     5.36   0.000     .4755573    1.137554
                   dummy2_224 |   .8079202   .1413029     5.72   0.000     .4969145    1.118926
                   dummy2_225 |   .7945174   .1483199     5.36   0.000     .4680675    1.120967
                   dummy2_226 |   .8178717   .1523736     5.37   0.000     .4824996    1.153244
                   dummy2_227 |   .7544061   .1344106     5.61   0.000     .4585703    1.050242
                   dummy2_228 |   .8108494    .144866     5.60   0.000     .4920014    1.129697
                   dummy2_229 |   .8088254   .1502478     5.38   0.000     .4781324    1.139519
                   dummy2_230 |   .8438897   .1518682     5.56   0.000       .50963    1.178149
                   dummy2_231 |   .8249281   .1494908     5.52   0.000     .4959011    1.153955
                   dummy2_232 |   .8146948   .1469055     5.55   0.000     .4913579    1.138032
                   dummy2_233 |   .7962776   .1381395     5.76   0.000     .4922346    1.100321
                   dummy2_234 |   .7809587   .1410507     5.54   0.000     .4705082    1.091409
                   dummy2_235 |   .8061686   .1480739     5.44   0.000     .4802603    1.132077
                   dummy2_236 |   .8673336   .1540362     5.63   0.000     .5283022    1.206365
                   dummy2_237 |   .8225512     .15468     5.32   0.000     .4821029       1.163
                   dummy2_238 |   .8189254   .1545079     5.30   0.000     .4788559    1.158995
                   dummy2_239 |   .8404929   .1548368     5.43   0.000     .4996994    1.181286
                   dummy2_240 |   .8996107   .1532879     5.87   0.000     .5622263    1.236995
                   dummy2_241 |   .8560969    .153837     5.56   0.000     .5175041     1.19469
                   dummy2_242 |   .8201942   .1537665     5.33   0.000     .4817565    1.158632
                   dummy2_243 |   .8242387   .1567519     5.26   0.000       .47923    1.169247
                   dummy2_244 |   .7539036   .1437376     5.25   0.000     .4375394    1.070268
                   dummy2_245 |   .8263968     .15595     5.30   0.000     .4831531    1.169641
                   dummy2_246 |   .8368965   .1473376     5.68   0.000     .5126086    1.161184
                   dummy2_247 |     .81194   .1549043     5.24   0.000     .4709979    1.152882
                   dummy2_248 |   .8422587   .1565943     5.38   0.000     .4975968    1.186921
                   dummy2_249 |   .9337899   .1536504     6.08   0.000     .5956076    1.271972
                   dummy2_250 |   .8268143   .1545368     5.35   0.000     .4866811    1.166948
                   dummy2_251 |    .844706   .1555525     5.43   0.000     .5023372    1.187075
                   dummy2_252 |   .8400198   .1557526     5.39   0.000     .4972106    1.182829
                   dummy2_253 |   .8390001   .1550834     5.41   0.000     .4976638    1.180336
                   dummy2_254 |   .8462178   .1543222     5.48   0.000     .5065568    1.185879
                   dummy2_255 |   .9318105   .1511235     6.17   0.000     .5991899    1.264431
                   dummy2_256 |   .8416159    .151028     5.57   0.000     .5092056    1.174026
                   dummy2_257 |    .834468   .1514676     5.51   0.000       .50109    1.167846
                   dummy2_258 |   .8533179   .1564861     5.45   0.000     .5088942    1.197742
                   dummy2_259 |   .7884736     .15731     5.01   0.000     .4422366    1.134711
                   dummy2_260 |   .8114957   .1561555     5.20   0.000     .4677997    1.155192
                   dummy2_261 |   .8240125   .1570807     5.25   0.000     .4782801    1.169745
                   dummy2_262 |   .8698988   .1571081     5.54   0.000     .5241061    1.215691
                   dummy2_263 |   .8362049   .1567388     5.34   0.000     .4912252    1.181185
                   dummy2_264 |     .80785   .1564778     5.16   0.000     .4634447    1.152255
                        _cons |  -.8370208   .1413187    -5.92   0.000    -1.148061   -.5259804
-----------------------------------------------------------------------------------------------

. estpost summarize LPgrowth labourproductivityleaderklems tecnogapklemsLP if e(sample)

             |  e(count)   e(sum_w)    e(mean)     e(Var)      e(sd)     e(min)     e(max)     e(sum) 
-------------+----------------------------------------------------------------------------------------
    LPgrowth |      1863       1863   .0298624   .0052756   .0726335  -.2766485   .2796197   55.63362 
labou~rklems |      1863       1863   .0206552   .0009299   .0304945   .0052536   .2953846   38.48056 
tecnogapkl~P |      1863       1863   2.984831   25.55332    5.05503          1     88.047   5560.741 

. esttab . using BCDVS_95_4_2013tables, cells("mean sd min max") append nonumbers label width(0.8\hsize) csv
(output written to BCDVS_95_4_2013tables.csv)

. 
. 
. 
. ******************************************************************************
. *******************  BASIC OLS REGRESSIONS  (table2)    **********************
. ******************************************************************************
. 
. *simple
. gen samp=0

. reg tfpcorrectedoverklems l.compindex y_* dummy* if tfpcorrectedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpool
> klems>0.5 & pcmpoolklems<3, cl(country)

Linear regression                                      Number of obs =    1856
                                                       F(  9,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2499
                                                       Root MSE      =  .06413

                               (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------
             |               Robust
tfpco~rklems |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
   compindex |
         L1. |   .0730835   .0246493     2.96   0.013     .0188307    .1273362
             |
         y_1 |          0  (omitted)
         y_2 |          0  (omitted)
         y_3 |   .0072295   .0111028     0.65   0.528    -.0172077    .0316666
         y_4 |  -.0184002   .0122332    -1.50   0.161    -.0453253    .0085249
         y_5 |   .0107084   .0108449     0.99   0.345    -.0131609    .0345778
         y_6 |   .0210502   .0071313     2.95   0.013     .0053543     .036746
         y_7 |  -.0065366   .0072898    -0.90   0.389    -.0225815    .0095082
         y_8 |   .0005797   .0139737     0.04   0.968    -.0301762    .0313355
         y_9 |   .0042553   .0090333     0.47   0.647    -.0156268    .0241373
        y_10 |   .0241814   .0111745     2.16   0.053    -.0004136    .0487764
        y_11 |   .0135059   .0081813     1.65   0.127    -.0045009    .0315127
    dummy2_1 |    .247308   .0100486    24.61   0.000     .2251911    .2694249
    dummy2_2 |   .1896231   .0100486    18.87   0.000     .1675063      .21174
    dummy2_3 |   .2537895   .0100486    25.26   0.000     .2316726    .2759064
    dummy2_4 |   .2502024   .0100486    24.90   0.000     .2280855    .2723193
    dummy2_5 |   .2443835   .0100486    24.32   0.000     .2222666    .2665004
    dummy2_6 |   .3049753   .0100486    30.35   0.000     .2828584    .3270921
    dummy2_7 |     .23407   .0100486    23.29   0.000     .2119531    .2561868
    dummy2_8 |    .278967   .0100486    27.76   0.000     .2568501    .3010839
    dummy2_9 |   .2372448   .0100486    23.61   0.000      .215128    .2593617
   dummy2_10 |   .2570485   .0100486    25.58   0.000     .2349316    .2791654
   dummy2_11 |   .2719091   .0100486    27.06   0.000     .2497923     .294026
   dummy2_12 |   .2645194   .0100486    26.32   0.000     .2424025    .2866363
   dummy2_13 |   .3034144   .0091103    33.30   0.000     .2833627    .3234661
   dummy2_14 |   .2447191   .0100486    24.35   0.000     .2226023     .266836
   dummy2_15 |   .2615679   .0100486    26.03   0.000      .239451    .2836847
   dummy2_16 |   .2321874   .0100486    23.11   0.000     .2100705    .2543043
   dummy2_17 |    .252672   .0100486    25.14   0.000     .2305551    .2747888
   dummy2_18 |   .2514324   .0100486    25.02   0.000     .2293155    .2735493
   dummy2_19 |   .2665642   .0100486    26.53   0.000     .2444473    .2886811
   dummy2_20 |    .243964   .0100486    24.28   0.000     .2218472    .2660809
   dummy2_21 |   .2169274   .0100486    21.59   0.000     .1948105    .2390443
   dummy2_22 |   .2394744   .0100486    23.83   0.000     .2173575    .2615913
   dummy2_23 |   .3036463   .0080771    37.59   0.000     .2858688    .3214239
   dummy2_24 |   .2555466   .0080771    31.64   0.000     .2377691    .2733241
   dummy2_25 |   .2246614   .0080771    27.81   0.000     .2068839     .242439
   dummy2_26 |   .2882053   .0080771    35.68   0.000     .2704277    .3059828
   dummy2_27 |   .2865509   .0080771    35.48   0.000     .2687733    .3043284
   dummy2_28 |   .2496526   .0078105    31.96   0.000     .2324618    .2668435
   dummy2_29 |   .2809141   .0099558    28.22   0.000     .2590016    .3028267
   dummy2_30 |   .2434704   .0080771    30.14   0.000     .2256929     .261248
   dummy2_31 |   .2895253   .0076282    37.95   0.000     .2727357    .3063148
   dummy2_32 |   .2967795   .0080771    36.74   0.000      .279002    .3145571
   dummy2_33 |   .2418233   .0080771    29.94   0.000     .2240457    .2596008
   dummy2_34 |   .2946559   .0080771    36.48   0.000     .2768784    .3124335
   dummy2_35 |   .2854098   .0076282    37.42   0.000     .2686203    .3021994
   dummy2_36 |   .2472499   .0079006    31.30   0.000     .2298609    .2646389
   dummy2_37 |   .2521861   .0080771    31.22   0.000     .2344086    .2699636
   dummy2_38 |    .256972   .0078105    32.90   0.000     .2397812    .2741629
   dummy2_39 |   .2253806   .0080771    27.90   0.000      .207603    .2431581
   dummy2_40 |   .1754561   .0080771    21.72   0.000     .1576786    .1932336
   dummy2_41 |   .2129639   .0080771    26.37   0.000     .1951864    .2307415
   dummy2_42 |    .201267    .008165    24.65   0.000     .1832959    .2192381
   dummy2_43 |   .2311289   .0079491    29.08   0.000      .213633    .2486248
   dummy2_44 |   .2389997   .0080771    29.59   0.000     .2212221    .2567772
   dummy2_45 |   .2917034    .005278    55.27   0.000     .2800867    .3033201
   dummy2_46 |          0  (omitted)
   dummy2_47 |   .2417272    .005278    45.80   0.000     .2301105    .2533439
   dummy2_48 |   .3027289   .0061882    48.92   0.000     .2891089    .3163489
   dummy2_49 |          0  (omitted)
   dummy2_50 |   .2653979   .0061882    42.89   0.000     .2517779     .279018
   dummy2_51 |          0  (omitted)
   dummy2_52 |   .2614044    .005278    49.53   0.000     .2497877    .2730211
   dummy2_53 |    .303614    .005278    57.52   0.000     .2919972    .3152307
   dummy2_54 |   .2565005    .005278    48.60   0.000     .2448838    .2681172
   dummy2_55 |     .26243    .005278    49.72   0.000     .2508133    .2740467
   dummy2_56 |   .3072194    .005278    58.21   0.000     .2956027    .3188361
   dummy2_57 |   .2945512   .0061882    47.60   0.000     .2809311    .3081712
   dummy2_58 |   .2426678   .0061882    39.21   0.000     .2290478    .2562879
   dummy2_59 |   .2887586    .005278    54.71   0.000     .2771419    .3003753
   dummy2_60 |   .3629246    .005278    68.76   0.000     .3513079    .3745413
   dummy2_61 |    .251559    .005278    47.66   0.000     .2399423    .2631757
   dummy2_62 |    .256544    .005278    48.61   0.000     .2449273    .2681607
   dummy2_63 |   .2396374    .005278    45.40   0.000     .2280207    .2512541
   dummy2_64 |   .3764428    .005278    71.32   0.000      .364826    .3880595
   dummy2_65 |   .2281016    .005278    43.22   0.000     .2164849    .2397183
   dummy2_66 |   .2472197   .0061882    39.95   0.000     .2335997    .2608398
   dummy2_67 |    .287939    .008623    33.39   0.000     .2689599    .3069181
   dummy2_68 |   .2346286    .008623    27.21   0.000     .2156495    .2536078
   dummy2_69 |   .2492635    .008623    28.91   0.000     .2302844    .2682426
   dummy2_70 |   .2718466    .008623    31.53   0.000     .2528675    .2908257
   dummy2_71 |   .2714292    .008623    31.48   0.000       .25245    .2904083
   dummy2_72 |   .2470143    .008623    28.65   0.000     .2280352    .2659935
   dummy2_73 |   .2167788   .0078261    27.70   0.000     .1995536    .2340041
   dummy2_74 |   .2874892    .008623    33.34   0.000     .2685101    .3064683
   dummy2_75 |   .2621637    .008623    30.40   0.000     .2431846    .2811428
   dummy2_76 |    .264985    .008623    30.73   0.000     .2460059    .2839642
   dummy2_77 |   .2533705    .008623    29.38   0.000     .2343914    .2723496
   dummy2_78 |   .2542605    .008623    29.49   0.000     .2352814    .2732396
   dummy2_79 |   .2906942    .008623    33.71   0.000      .271715    .3096733
   dummy2_80 |   .2674138    .008623    31.01   0.000     .2484346    .2863929
   dummy2_81 |   .2440018    .008623    28.30   0.000     .2250226    .2629809
   dummy2_82 |   .2852057    .008623    33.07   0.000     .2662265    .3041848
   dummy2_83 |   .2465839    .008623    28.60   0.000     .2276048     .265563
   dummy2_84 |   .2454411    .008623    28.46   0.000     .2264619    .2644202
   dummy2_85 |   .2637833    .008623    30.59   0.000     .2448042    .2827624
   dummy2_86 |    .301254    .008623    34.94   0.000     .2822749    .3202332
   dummy2_87 |   .2298889    .008623    26.66   0.000     .2109098     .248868
   dummy2_88 |   .1757815    .008623    20.39   0.000     .1568024    .1947606
   dummy2_89 |   .3130862   .0090802    34.48   0.000     .2931008    .3330717
   dummy2_90 |   .3463374   .0090802    38.14   0.000     .3263519    .3663229
   dummy2_91 |   .1972915   .0074642    26.43   0.000      .180863    .2137201
   dummy2_92 |    .322953   .0074642    43.27   0.000     .3065244    .3393815
   dummy2_93 |   .2865708   .0074642    38.39   0.000     .2701422    .3029993
   dummy2_94 |   .2939799   .0074642    39.39   0.000     .2775513    .3104084
   dummy2_95 |   .4638315   .0032291   143.64   0.000     .4567244    .4709386
   dummy2_96 |   .2724481   .0074642    36.50   0.000     .2560195    .2888766
   dummy2_97 |   .3408153   .0074642    45.66   0.000     .3243867    .3572438
   dummy2_98 |   .2031124   .0074642    27.21   0.000     .1866839     .219541
   dummy2_99 |   .1716102   .0074642    22.99   0.000     .1551816    .1880387
  dummy2_100 |   .3795901   .0074642    50.85   0.000     .3631616    .3960187
  dummy2_101 |     .27433   .0074642    36.75   0.000     .2579014    .2907585
  dummy2_102 |   .0651317   .0074642     8.73   0.000     .0487031    .0815602
  dummy2_103 |   .3729053   .0074642    49.96   0.000     .3564768    .3893339
  dummy2_104 |   .2484826   .0075544    32.89   0.000     .2318555    .2651097
  dummy2_105 |   .2678703   .0090802    29.50   0.000     .2478848    .2878557
  dummy2_106 |   .2235503   .0090802    24.62   0.000     .2035649    .2435358
  dummy2_107 |          0  (omitted)
  dummy2_108 |          0  (omitted)
  dummy2_109 |   .2970903    .008438    35.21   0.000     .2785184    .3156622
  dummy2_110 |          0  (omitted)
  dummy2_111 |   .2655115   .0077163    34.41   0.000     .2485282    .2824949
  dummy2_112 |   .2411618   .0077163    31.25   0.000     .2241784    .2581451
  dummy2_113 |   .2346337   .0077163    30.41   0.000     .2176503     .251617
  dummy2_114 |   .2332632   .0077163    30.23   0.000     .2162799    .2502466
  dummy2_115 |   .2676295   .0077163    34.68   0.000     .2506461    .2846128
  dummy2_116 |   .2389114   .0077163    30.96   0.000      .221928    .2558947
  dummy2_117 |   .1757306   .0081258    21.63   0.000     .1578458    .1936155
  dummy2_118 |   .2594055   .0077163    33.62   0.000     .2424222    .2763889
  dummy2_119 |   .2474102   .0077163    32.06   0.000     .2304268    .2643935
  dummy2_120 |   .2532137   .0077163    32.82   0.000     .2362303     .270197
  dummy2_121 |   .2474312   .0077163    32.07   0.000     .2304479    .2644146
  dummy2_122 |   .2380552   .0077163    30.85   0.000     .2210719    .2550386
  dummy2_123 |   .2395639   .0077163    31.05   0.000     .2225805    .2565472
  dummy2_124 |   .2423951   .0077163    31.41   0.000     .2254117    .2593784
  dummy2_125 |   .2517971   .0077163    32.63   0.000     .2348137    .2687804
  dummy2_126 |   .2548857   .0077163    33.03   0.000     .2379024    .2718691
  dummy2_127 |   .2326249   .0077163    30.15   0.000     .2156415    .2496083
  dummy2_128 |   .2302804   .0077163    29.84   0.000      .213297    .2472637
  dummy2_129 |   .2434027   .0077163    31.54   0.000     .2264193    .2603861
  dummy2_130 |   .3129743   .0077163    40.56   0.000     .2959909    .3299577
  dummy2_131 |   .2632354   .0077163    34.11   0.000     .2462521    .2802188
  dummy2_132 |   .2509098   .0077163    32.52   0.000     .2339264    .2678931
  dummy2_133 |   .2639639   .0072077    36.62   0.000     .2480999    .2798279
  dummy2_134 |   .3010943   .0072077    41.77   0.000     .2852303    .3169583
  dummy2_135 |     .22539   .0072077    31.27   0.000      .209526     .241254
  dummy2_136 |   .2277686   .0072539    31.40   0.000     .2118028    .2437344
  dummy2_137 |   .2416242   .0072077    33.52   0.000     .2257602    .2574882
  dummy2_138 |    .245283   .0072077    34.03   0.000     .2294189     .261147
  dummy2_139 |          0  (omitted)
  dummy2_140 |   .2435473   .0072077    33.79   0.000     .2276833    .2594113
  dummy2_141 |   .2711633   .0072077    37.62   0.000     .2552993    .2870273
  dummy2_142 |   .2579819   .0072077    35.79   0.000     .2421179    .2738459
  dummy2_143 |   .2589668   .0072077    35.93   0.000     .2431028    .2748309
  dummy2_144 |   .2552439   .0071286    35.81   0.000     .2395538    .2709339
  dummy2_145 |   .3000129   .0071286    42.09   0.000     .2843228    .3157029
  dummy2_146 |   .2727338   .0072077    37.84   0.000     .2568697    .2885978
  dummy2_147 |   .2646963   .0072077    36.72   0.000     .2488323    .2805603
  dummy2_148 |   .2741445   .0072077    38.04   0.000     .2582805    .2900085
  dummy2_149 |   .2499196   .0072077    34.67   0.000     .2340556    .2657836
  dummy2_150 |   .2551152   .0072077    35.39   0.000     .2392512    .2709792
  dummy2_151 |    .258828   .0072077    35.91   0.000     .2429639     .274692
  dummy2_152 |   .2704017   .0072077    37.52   0.000     .2545376    .2862657
  dummy2_153 |   .2335199   .0072077    32.40   0.000     .2176559    .2493839
  dummy2_154 |   .2659765   .0072077    36.90   0.000     .2501124    .2818405
  dummy2_155 |   .2358336   .0074785    31.53   0.000     .2193736    .2522937
  dummy2_156 |    .268826   .0072755    36.95   0.000     .2528127    .2848392
  dummy2_157 |   .2580928   .0074785    34.51   0.000     .2416328    .2745528
  dummy2_158 |   .2620535   .0074785    35.04   0.000     .2455935    .2785135
  dummy2_159 |   .2303909   .0074785    30.81   0.000     .2139309     .246851
  dummy2_160 |   .2535317   .0074785    33.90   0.000     .2370717    .2699918
  dummy2_161 |   .3876106   .0082544    46.96   0.000     .3694428    .4057784
  dummy2_162 |   .2898329   .0074785    38.76   0.000     .2733728    .3062929
  dummy2_163 |   .2481964   .0074785    33.19   0.000     .2317363    .2646564
  dummy2_164 |   .2587676   .0074785    34.60   0.000     .2423076    .2752277
  dummy2_165 |   .2580846   .0074785    34.51   0.000     .2416245    .2745446
  dummy2_166 |   .2697232   .0074785    36.07   0.000     .2532631    .2861832
  dummy2_167 |   .2656008   .0074785    35.52   0.000     .2491408    .2820608
  dummy2_168 |   .2684058   .0074785    35.89   0.000     .2519457    .2848658
  dummy2_169 |   .2512505   .0074785    33.60   0.000     .2347905    .2677105
  dummy2_170 |   .2825358   .0074785    37.78   0.000     .2660757    .2989958
  dummy2_171 |    .230417   .0074785    30.81   0.000     .2139569     .246877
  dummy2_172 |    .226959   .0074785    30.35   0.000      .210499    .2434191
  dummy2_173 |   .2461868   .0074785    32.92   0.000     .2297267    .2626468
  dummy2_174 |    .322818   .0074785    43.17   0.000     .3063579     .339278
  dummy2_175 |   .2503501   .0074785    33.48   0.000     .2338901    .2668101
  dummy2_176 |   .2295363   .0074785    30.69   0.000     .2130762    .2459963
  dummy2_177 |   .2558648   .0051132    50.04   0.000     .2446108    .2671187
  dummy2_178 |   .2645794   .0051132    51.74   0.000     .2533254    .2758334
  dummy2_179 |   .2800943   .0051132    54.78   0.000     .2688403    .2913483
  dummy2_180 |   .2686638   .0051132    52.54   0.000     .2574098    .2799177
  dummy2_181 |   .2245704   .0051132    43.92   0.000     .2133165    .2358244
  dummy2_182 |   .2705277   .0051132    52.91   0.000     .2592737    .2817817
  dummy2_183 |   .2306469   .0051132    45.11   0.000     .2193929    .2419009
  dummy2_184 |   .2573793   .0051132    50.34   0.000     .2461254    .2686333
  dummy2_185 |   .2625709   .0051132    51.35   0.000     .2513169    .2738249
  dummy2_186 |   .2575152   .0051132    50.36   0.000     .2462612    .2687692
  dummy2_187 |   .2683441   .0051132    52.48   0.000     .2570901    .2795981
  dummy2_188 |   .2487764   .0051132    48.65   0.000     .2375224    .2600304
  dummy2_189 |   .2695861   .0051132    52.72   0.000     .2583321    .2808401
  dummy2_190 |   .2381505   .0051132    46.58   0.000     .2268965    .2494045
  dummy2_191 |   .2443245   .0051132    47.78   0.000     .2330705    .2555785
  dummy2_192 |   .2832032   .0051132    55.39   0.000     .2719492    .2944572
  dummy2_193 |   .2358677   .0051132    46.13   0.000     .2246137    .2471216
  dummy2_194 |   .2160821   .0051132    42.26   0.000     .2048281    .2273361
  dummy2_195 |          0  (omitted)
  dummy2_196 |          0  (omitted)
  dummy2_197 |   .3007396   .0051132    58.82   0.000     .2894856    .3119936
  dummy2_198 |   .2359919   .0051132    46.15   0.000     .2247379    .2472459
  dummy2_199 |   .2579796   .0114985    22.44   0.000     .2326716    .2832876
  dummy2_200 |   .2374891   .0116608    20.37   0.000     .2118238    .2631544
  dummy2_201 |    .219005   .0114985    19.05   0.000      .193697     .244313
  dummy2_202 |   .2391476   .0114985    20.80   0.000     .2138396    .2644556
  dummy2_203 |   .2702987   .0114985    23.51   0.000     .2449907    .2956067
  dummy2_204 |   .2347493   .0114985    20.42   0.000     .2094413    .2600573
  dummy2_205 |   .2281186   .0116608    19.56   0.000     .2024533    .2537839
  dummy2_206 |   .2219346   .0114985    19.30   0.000     .1966266    .2472426
  dummy2_207 |   .2391884   .0114985    20.80   0.000     .2138804    .2644964
  dummy2_208 |   .2520975   .0114985    21.92   0.000     .2267895    .2774055
  dummy2_209 |   .2152882   .0114985    18.72   0.000     .1899802    .2405961
  dummy2_210 |   .2477543   .0114985    21.55   0.000     .2224463    .2730623
  dummy2_211 |   .3740152   .0131906    28.35   0.000     .3449829    .4030475
  dummy2_212 |   .2725719   .0114985    23.71   0.000     .2472639    .2978798
  dummy2_213 |   .2918344   .0114985    25.38   0.000     .2665264    .3171423
  dummy2_214 |   .2194767   .0114985    19.09   0.000     .1941687    .2447847
  dummy2_215 |   .2277215   .0114985    19.80   0.000     .2024135    .2530294
  dummy2_216 |   .2432143   .0114985    21.15   0.000     .2179063    .2685222
  dummy2_217 |   .2262196   .0114985    19.67   0.000     .2009116    .2515276
  dummy2_218 |   .2665004   .0114985    23.18   0.000     .2411925    .2918084
  dummy2_219 |   .2147636   .0114985    18.68   0.000     .1894556    .2400715
  dummy2_220 |   .2155101   .0114985    18.74   0.000     .1902021    .2408181
  dummy2_221 |   .2709046   .0078243    34.62   0.000     .2536835    .2881258
  dummy2_222 |   .2292846   .0078243    29.30   0.000     .2120635    .2465058
  dummy2_223 |   .2440825   .0078243    31.20   0.000     .2268614    .2613037
  dummy2_224 |   .2730339   .0078243    34.90   0.000     .2558127     .290255
  dummy2_225 |   .2413157   .0078243    30.84   0.000     .2240946    .2585369
  dummy2_226 |   .2482634   .0078243    31.73   0.000     .2310423    .2654846
  dummy2_227 |   .2373973   .0078243    30.34   0.000     .2201761    .2546184
  dummy2_228 |   .2644763   .0078243    33.80   0.000     .2472552    .2816975
  dummy2_229 |   .2483833   .0078243    31.75   0.000     .2311621    .2656044
  dummy2_230 |   .2753865   .0078243    35.20   0.000     .2581653    .2926077
  dummy2_231 |   .2705889   .0078243    34.58   0.000     .2533678    .2878101
  dummy2_232 |   .2689349   .0078243    34.37   0.000     .2517138    .2861561
  dummy2_233 |   .2763641   .0078243    35.32   0.000     .2591429    .2935853
  dummy2_234 |   .2603789   .0078243    33.28   0.000     .2431577       .2776
  dummy2_235 |   .2463938   .0078243    31.49   0.000     .2291727     .263615
  dummy2_236 |   .2593929   .0078243    33.15   0.000     .2421717     .276614
  dummy2_237 |   .2545508   .0078243    32.53   0.000     .2373296    .2717719
  dummy2_238 |   .2451276   .0078243    31.33   0.000     .2279065    .2623488
  dummy2_239 |   .2673272   .0078243    34.17   0.000     .2501061    .2845484
  dummy2_240 |   .3005757   .0078243    38.42   0.000     .2833545    .3177969
  dummy2_241 |   .2619236   .0078243    33.48   0.000     .2447025    .2791448
  dummy2_242 |   .2443053   .0078243    31.22   0.000     .2270841    .2615264
  dummy2_243 |   .2645513   .0100975    26.20   0.000     .2423268    .2867759
  dummy2_244 |   .2114208   .0100975    20.94   0.000     .1891962    .2336453
  dummy2_245 |   .2535971   .0100975    25.11   0.000     .2313726    .2758216
  dummy2_246 |   .2912098   .0100975    28.84   0.000     .2689853    .3134343
  dummy2_247 |   .2444616   .0100975    24.21   0.000      .222237    .2666861
  dummy2_248 |   .2657097   .0100975    26.31   0.000     .2434852    .2879343
  dummy2_249 |   .3207886   .0104078    30.82   0.000     .2978812     .343696
  dummy2_250 |   .2493319   .0100975    24.69   0.000     .2271073    .2715564
  dummy2_251 |   .2688932   .0100975    26.63   0.000     .2466686    .2911177
  dummy2_252 |   .2606591   .0100975    25.81   0.000     .2384346    .2828837
  dummy2_253 |   .2687731   .0100975    26.62   0.000     .2465485    .2909976
  dummy2_254 |   .2677423   .0100975    26.52   0.000     .2455177    .2899668
  dummy2_255 |   .3755793   .0100975    37.20   0.000     .3533548    .3978039
  dummy2_256 |    .286429   .0100975    28.37   0.000     .2642045    .3086536
  dummy2_257 |   .2791608   .0100975    27.65   0.000     .2569363    .3013854
  dummy2_258 |   .2491662   .0100975    24.68   0.000     .2269416    .2713907
  dummy2_259 |    .215508   .0100975    21.34   0.000     .1932835    .2377325
  dummy2_260 |   .2397294   .0100975    23.74   0.000     .2175049    .2619539
  dummy2_261 |   .2475433   .0100975    24.52   0.000     .2253188    .2697679
  dummy2_262 |   .2544417   .0100975    25.20   0.000     .2322172    .2766662
  dummy2_263 |   .2436198   .0100975    24.13   0.000     .2213953    .2658443
  dummy2_264 |   .2219854   .0100975    21.98   0.000     .1997608    .2442099
       _cons |  -.2878784   .0139649   -20.61   0.000    -.3186148   -.2571419
------------------------------------------------------------------------------

. eststo table2_1

. replace samp=1 if e(sample)
(1856 real changes made)

. reg tfpcorrectedoverklems l.CPIequalw y_* dummy* if tfpcorrectedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpool
> klems>0.5 & pcmpoolklems<3, cl(country)

Linear regression                                      Number of obs =    1856
                                                       F(  9,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2505
                                                       Root MSE      =   .0641

                               (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------
             |               Robust
tfpco~rklems |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
   CPIequalw |
         L1. |   .0847982   .0252837     3.35   0.006     .0291492    .1404473
             |
         y_1 |          0  (omitted)
         y_2 |          0  (omitted)
         y_3 |   .0067698   .0113104     0.60   0.562    -.0181243    .0316639
         y_4 |  -.0185082    .012509    -1.48   0.167    -.0460403    .0090238
         y_5 |   .0117103   .0103854     1.13   0.283    -.0111478    .0345684
         y_6 |   .0227066   .0066169     3.43   0.006     .0081429    .0372703
         y_7 |   -.004647    .006728    -0.69   0.504    -.0194553    .0101612
         y_8 |   .0022729   .0130777     0.17   0.865    -.0265109    .0310568
         y_9 |   .0054023   .0087333     0.62   0.549    -.0138196    .0246242
        y_10 |   .0253606   .0098747     2.57   0.026     .0036264    .0470948
        y_11 |   .0150012   .0070461     2.13   0.057    -.0005073    .0305096
    dummy2_1 |  -.2141087   .0075828   -28.24   0.000    -.2307984   -.1974191
    dummy2_2 |  -.2717936   .0075828   -35.84   0.000    -.2884832    -.255104
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   dummy2_19 |  -.1948526   .0075828   -25.70   0.000    -.2115422   -.1781629
   dummy2_20 |  -.2174527   .0075828   -28.68   0.000    -.2341423   -.2007631
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   dummy2_45 |  -.1598135   .0082407   -19.39   0.000    -.1779512   -.1416759
   dummy2_46 |          0  (omitted)
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   dummy2_48 |  -.1490054   .0092346   -16.14   0.000    -.1693306   -.1286802
   dummy2_49 |          0  (omitted)
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   dummy2_51 |  -.4509964   .0066815   -67.50   0.000    -.4657024   -.4362905
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   dummy2_55 |  -.1890869   .0082407   -22.95   0.000    -.2072246   -.1709493
   dummy2_56 |  -.1442975   .0082407   -17.51   0.000    -.1624352   -.1261599
   dummy2_57 |  -.1571831   .0092346   -17.02   0.000    -.1775083   -.1368579
   dummy2_58 |  -.2090664   .0092346   -22.64   0.000    -.2293916   -.1887412
   dummy2_59 |  -.1627583   .0082407   -19.75   0.000     -.180896   -.1446207
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   dummy2_71 |  -.1865366   .0076214   -24.48   0.000    -.2033112   -.1697621
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   dummy2_95 |          0  (omitted)
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  dummy2_107 |          0  (omitted)
  dummy2_108 |          0  (omitted)
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  dummy2_110 |          0  (omitted)
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  dummy2_138 |  -.2161518   .0086273   -25.05   0.000    -.2351404   -.1971632
  dummy2_139 |          0  (omitted)
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  dummy2_195 |          0  (omitted)
  dummy2_196 |          0  (omitted)
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  dummy2_227 |  -.2233037   .0078468   -28.46   0.000    -.2405745   -.2060329
  dummy2_228 |  -.1962246   .0078468   -25.01   0.000    -.2134954   -.1789538
  dummy2_229 |  -.2123177   .0078468   -27.06   0.000    -.2295884   -.1950469
  dummy2_230 |  -.1853144   .0078468   -23.62   0.000    -.2025852   -.1680437
  dummy2_231 |   -.190112   .0078468   -24.23   0.000    -.2073828   -.1728412
  dummy2_232 |   -.191766   .0078468   -24.44   0.000    -.2090368   -.1744952
  dummy2_233 |  -.1843368   .0078468   -23.49   0.000    -.2016076   -.1670661
  dummy2_234 |  -.2003221   .0078468   -25.53   0.000    -.2175928   -.1830513
  dummy2_235 |  -.2143071   .0078468   -27.31   0.000    -.2315779   -.1970363
  dummy2_236 |  -.2013081   .0078468   -25.65   0.000    -.2185789   -.1840373
  dummy2_237 |  -.2061502   .0078468   -26.27   0.000     -.223421   -.1888794
  dummy2_238 |  -.2155733   .0078468   -27.47   0.000    -.2328441   -.1983025
  dummy2_239 |  -.1933737   .0078468   -24.64   0.000    -.2106445   -.1761029
  dummy2_240 |  -.1601252   .0078468   -20.41   0.000     -.177396   -.1428545
  dummy2_241 |  -.1987773   .0078468   -25.33   0.000    -.2160481   -.1815065
  dummy2_242 |  -.2163957   .0078468   -27.58   0.000    -.2336664   -.1991249
  dummy2_243 |      -.196   .0071833   -27.29   0.000    -.2118103   -.1801897
  dummy2_244 |  -.2491306   .0071833   -34.68   0.000    -.2649409   -.2333203
  dummy2_245 |  -.2069542   .0071833   -28.81   0.000    -.2227645    -.191144
  dummy2_246 |  -.1693415   .0071833   -23.57   0.000    -.1851518   -.1535313
  dummy2_247 |  -.2160898   .0071833   -30.08   0.000    -.2319001   -.2002795
  dummy2_248 |  -.1948416   .0071833   -27.12   0.000    -.2106519   -.1790313
  dummy2_249 |  -.1398586   .0075008   -18.65   0.000    -.1563679   -.1233493
  dummy2_250 |  -.2112195   .0071833   -29.40   0.000    -.2270298   -.1954092
  dummy2_251 |  -.1916582   .0071833   -26.68   0.000    -.2074685   -.1758479
  dummy2_252 |  -.1998922   .0071833   -27.83   0.000    -.2157025   -.1840819
  dummy2_253 |  -.1917783   .0071833   -26.70   0.000    -.2075886    -.175968
  dummy2_254 |  -.1928091   .0071833   -26.84   0.000    -.2086194   -.1769988
  dummy2_255 |   -.084972   .0071833   -11.83   0.000    -.1007823   -.0691617
  dummy2_256 |  -.1741223   .0071833   -24.24   0.000    -.1899326    -.158312
  dummy2_257 |  -.1813905   .0071833   -25.25   0.000    -.1972008   -.1655803
  dummy2_258 |  -.2113852   .0071833   -29.43   0.000    -.2271955   -.1955749
  dummy2_259 |  -.2450434   .0071833   -34.11   0.000    -.2608536   -.2292331
  dummy2_260 |   -.220822   .0071833   -30.74   0.000    -.2366322   -.2050117
  dummy2_261 |   -.213008   .0071833   -29.65   0.000    -.2288183   -.1971977
  dummy2_262 |  -.2061097   .0071833   -28.69   0.000    -.2219199   -.1902994
  dummy2_263 |  -.2169315   .0071833   -30.20   0.000    -.2327418   -.2011213
  dummy2_264 |   -.238566   .0071833   -33.21   0.000    -.2543763   -.2227557
       _cons |   .1714572    .016722    10.25   0.000     .1346524    .2082621
------------------------------------------------------------------------------

. eststo table2_2

. reg LPgrowth  l.compindex y_* dummy* if LPgrowth>-0.282 & LPgrowth<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, cl(country
> )

Linear regression                                      Number of obs =    1863
                                                       F(  9,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2342
                                                       Root MSE      =  .06861

                               (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------
             |               Robust
    LPgrowth |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
   compindex |
         L1. |   .0654626     .02176     3.01   0.012      .017569    .1133561
             |
         y_1 |          0  (omitted)
         y_2 |          0  (omitted)
         y_3 |  -.0014377   .0156046    -0.09   0.928    -.0357832    .0329078
         y_4 |   -.015736   .0121373    -1.30   0.221      -.04245    .0109779
         y_5 |   .0145073   .0100869     1.44   0.178    -.0076939    .0367084
         y_6 |   .0249709   .0099102     2.52   0.028     .0031587     .046783
         y_7 |   -.005255   .0081925    -0.64   0.534    -.0232866    .0127767
         y_8 |  -.0025021   .0122901    -0.20   0.842    -.0295525    .0245482
         y_9 |   .0017526   .0087287     0.20   0.845    -.0174592    .0209643
        y_10 |   .0149116   .0068322     2.18   0.052    -.0001261    .0299493
        y_11 |   .0055358   .0045595     1.21   0.250    -.0044996    .0155711
    dummy2_1 |  -.1420971   .0037166   -38.23   0.000    -.1502774   -.1339169
    dummy2_2 |  -.2000684   .0037166   -53.83   0.000    -.2082487   -.1918882
    dummy2_3 |  -.1601807   .0037166   -43.10   0.000    -.1683609   -.1520004
    dummy2_4 |  -.1797028   .0037166   -48.35   0.000    -.1878831   -.1715226
    dummy2_5 |  -.1652499   .0037166   -44.46   0.000    -.1734302   -.1570696
    dummy2_6 |  -.1644732   .0037166   -44.25   0.000    -.1726534   -.1562929
    dummy2_7 |  -.1883618   .0037166   -50.68   0.000    -.1965421   -.1801816
    dummy2_8 |  -.1186509   .0037166   -31.92   0.000    -.1268312   -.1104707
    dummy2_9 |  -.1637795   .0037166   -44.07   0.000    -.1719598   -.1555993
   dummy2_10 |  -.1524129   .0037166   -41.01   0.000    -.1605932   -.1442327
   dummy2_11 |  -.1551536   .0037166   -41.75   0.000    -.1633339   -.1469734
   dummy2_12 |  -.1292562   .0037166   -34.78   0.000    -.1374364   -.1210759
   dummy2_13 |          0  (omitted)
   dummy2_14 |  -.1546937   .0037166   -41.62   0.000    -.1628739   -.1465134
   dummy2_15 |   -.151082   .0037166   -40.65   0.000    -.1592623   -.1429017
   dummy2_16 |  -.1885978   .0037166   -50.74   0.000     -.196778   -.1804175
   dummy2_17 |  -.1672872   .0037166   -45.01   0.000    -.1754674   -.1591069
   dummy2_18 |  -.1767435   .0037166   -47.55   0.000    -.1849238   -.1685633
   dummy2_19 |  -.1572444   .0037166   -42.31   0.000    -.1654247   -.1490642
   dummy2_20 |  -.1313377   .0037166   -35.34   0.000     -.139518   -.1231575
   dummy2_21 |   -.180844   .0037166   -48.66   0.000    -.1890243   -.1726638
   dummy2_22 |  -.1613152   .0037166   -43.40   0.000    -.1694955    -.153135
   dummy2_23 |   -.106034   .0068843   -15.40   0.000    -.1211861   -.0908818
   dummy2_24 |   -.131752   .0068843   -19.14   0.000    -.1469042   -.1165999
   dummy2_25 |  -.1624171   .0068843   -23.59   0.000    -.1775693    -.147265
   dummy2_26 |  -.1208017   .0068843   -17.55   0.000    -.1359539   -.1056496
   dummy2_27 |   -.121811   .0068843   -17.69   0.000    -.1369632   -.1066589
   dummy2_28 |  -.1786605   .0068829   -25.96   0.000    -.1938097   -.1635113
   dummy2_29 |  -.1496334   .0049742   -30.08   0.000    -.1605817   -.1386852
   dummy2_30 |  -.1444648   .0068843   -20.98   0.000    -.1596169   -.1293126
   dummy2_31 |  -.0758581   .0066522   -11.40   0.000    -.0904994   -.0612168
   dummy2_32 |  -.1067585   .0068843   -15.51   0.000    -.1219106   -.0916063
   dummy2_33 |  -.1727264   .0068843   -25.09   0.000    -.1878786   -.1575743
   dummy2_34 |  -.1117705   .0068843   -16.24   0.000    -.1269227   -.0966184
   dummy2_35 |   -.086642   .0066522   -13.02   0.000    -.1012833   -.0720007
   dummy2_36 |  -.1038564   .0067574   -15.37   0.000    -.1187293   -.0889836
   dummy2_37 |  -.1560955   .0068843   -22.67   0.000    -.1712476   -.1409433
   dummy2_38 |  -.1509256   .0068843   -21.92   0.000    -.1660778   -.1357735
   dummy2_39 |  -.1750696   .0068843   -25.43   0.000    -.1902218   -.1599175
   dummy2_40 |  -.2441863   .0068843   -35.47   0.000    -.2593385   -.2290342
   dummy2_41 |  -.1772929   .0068843   -25.75   0.000     -.192445   -.1621407
   dummy2_42 |  -.0897405   .0068843   -13.04   0.000    -.1048926   -.0745883
   dummy2_43 |  -.1555759   .0067392   -23.09   0.000    -.1704088    -.140743
   dummy2_44 |  -.1715889   .0068843   -24.92   0.000    -.1867411   -.1564368
   dummy2_45 |  -.1016802    .009469   -10.74   0.000    -.1225214    -.080839
   dummy2_46 |          0  (omitted)
   dummy2_47 |  -.1698389    .009469   -17.94   0.000    -.1906802   -.1489977
   dummy2_48 |  -.1320392   .0090103   -14.65   0.000    -.1518708   -.1122076
   dummy2_49 |          0  (omitted)
   dummy2_50 |  -.1620234   .0090103   -17.98   0.000     -.181855   -.1421917
   dummy2_51 |   -.444035   .0128156   -34.65   0.000    -.4722418   -.4158281
   dummy2_52 |  -.1734309    .009469   -18.32   0.000    -.1942721   -.1525897
   dummy2_53 |  -.1325678    .009469   -14.00   0.000     -.153409   -.1117266
   dummy2_54 |  -.1680144    .009469   -17.74   0.000    -.1888556   -.1471731
   dummy2_55 |  -.1780749    .009469   -18.81   0.000    -.1989162   -.1572337
   dummy2_56 |  -.1113107    .009469   -11.76   0.000    -.1321519   -.0904695
   dummy2_57 |  -.0975489   .0090103   -10.83   0.000    -.1173805   -.0777173
   dummy2_58 |  -.1602686   .0090103   -17.79   0.000    -.1801002    -.140437
   dummy2_59 |  -.1136878    .009469   -12.01   0.000    -.1345291   -.0928466
   dummy2_60 |  -.0952787    .009469   -10.06   0.000    -.1161199   -.0744374
   dummy2_61 |  -.1761874    .009469   -18.61   0.000    -.1970286   -.1553461
   dummy2_62 |  -.1714688    .009469   -18.11   0.000      -.19231   -.1506276
   dummy2_63 |  -.1956335    .009469   -20.66   0.000    -.2164747   -.1747922
   dummy2_64 |  -.0108823    .009469    -1.15   0.275    -.0317235    .0099589
   dummy2_65 |  -.1473437    .009469   -15.56   0.000     -.168185   -.1265025
   dummy2_66 |  -.1564155   .0090103   -17.36   0.000    -.1762471   -.1365839
   dummy2_67 |  -.1216624   .0066251   -18.36   0.000    -.1362442   -.1070806
   dummy2_68 |  -.1700771   .0066251   -25.67   0.000    -.1846589   -.1554953
   dummy2_69 |  -.1707859   .0066251   -25.78   0.000    -.1853677    -.156204
   dummy2_70 |  -.1387425   .0066251   -20.94   0.000    -.1533244   -.1241607
   dummy2_71 |  -.1398549   .0066251   -21.11   0.000    -.1544367   -.1252731
   dummy2_72 |  -.1605066   .0066251   -24.23   0.000    -.1750884   -.1459247
   dummy2_73 |  -.2101084   .0071699   -29.30   0.000    -.2258892   -.1943276
   dummy2_74 |  -.1222907   .0066251   -18.46   0.000    -.1368725   -.1077089
   dummy2_75 |  -.1541808   .0066251   -23.27   0.000    -.1687627    -.139599
   dummy2_76 |  -.1487354   .0066251   -22.45   0.000    -.1633172   -.1341535
   dummy2_77 |  -.1659822   .0066251   -25.05   0.000     -.180564   -.1514004
   dummy2_78 |  -.1638407   .0066251   -24.73   0.000    -.1784226   -.1492589
   dummy2_79 |  -.1236958   .0066251   -18.67   0.000    -.1382776    -.109114
   dummy2_80 |  -.1473217   .0066251   -22.24   0.000    -.1619035   -.1327399
   dummy2_81 |   -.169551   .0066251   -25.59   0.000    -.1841328   -.1549692
   dummy2_82 |  -.1056373   .0066251   -15.94   0.000    -.1202191   -.0910555
   dummy2_83 |  -.1692271   .0066251   -25.54   0.000    -.1838089   -.1546453
   dummy2_84 |  -.1756917   .0066251   -26.52   0.000    -.1902735   -.1611099
   dummy2_85 |  -.1413633   .0066251   -21.34   0.000    -.1559451   -.1267815
   dummy2_86 |  -.0936516   .0066251   -14.14   0.000    -.1082334   -.0790697
   dummy2_87 |  -.1759446   .0066251   -26.56   0.000    -.1905264   -.1613627
   dummy2_88 |  -.1947977   .0066251   -29.40   0.000    -.2093795   -.1802159
   dummy2_89 |  -.1269847   .0065086   -19.51   0.000    -.1413101   -.1126593
   dummy2_90 |   -.124701   .0069131   -18.04   0.000    -.1399166   -.1094853
   dummy2_91 |  -.2011586   .0053532   -37.58   0.000    -.2129409   -.1893762
   dummy2_92 |  -.1032332   .0053532   -19.28   0.000    -.1150155   -.0914508
   dummy2_93 |  -.0919907   .0053532   -17.18   0.000     -.103773   -.0802083
   dummy2_94 |  -.1259243   .0053532   -23.52   0.000    -.1377066   -.1141419
   dummy2_95 |  -.0155785   .0114632    -1.36   0.201    -.0408088    .0096518
   dummy2_96 |  -.1190327   .0053532   -22.24   0.000     -.130815   -.1072503
   dummy2_97 |  -.1254636   .0053532   -23.44   0.000     -.137246   -.1136813
   dummy2_98 |   -.185933   .0053532   -34.73   0.000    -.1977153   -.1741506
   dummy2_99 |  -.1639554   .0053532   -30.63   0.000    -.1757378   -.1521731
  dummy2_100 |  -.0035477   .0076985    -0.46   0.654    -.0204919    .0133965
  dummy2_101 |   -.044604   .0053532    -8.33   0.000    -.0563863   -.0328216
  dummy2_102 |  -.1397272   .0053532   -26.10   0.000    -.1515095   -.1279448
  dummy2_103 |  -.0995574   .0053532   -18.60   0.000    -.1113397    -.087775
  dummy2_104 |  -.1500594   .0056064   -26.77   0.000    -.1623991   -.1377197
  dummy2_105 |  -.1581841   .0065086   -24.30   0.000    -.1725095   -.1438587
  dummy2_106 |  -.1825047   .0065086   -28.04   0.000    -.1968301   -.1681793
  dummy2_107 |          0  (omitted)
  dummy2_108 |          0  (omitted)
  dummy2_109 |  -.1040499   .0064797   -16.06   0.000    -.1183117   -.0897882
  dummy2_110 |          0  (omitted)
  dummy2_111 |  -.1601372   .0071696   -22.34   0.000    -.1759174   -.1443571
  dummy2_112 |   -.171479   .0071696   -23.92   0.000    -.1872592   -.1556989
  dummy2_113 |   -.185757   .0071696   -25.91   0.000    -.2015371   -.1699768
  dummy2_114 |  -.1848061   .0071696   -25.78   0.000    -.2005862   -.1690259
  dummy2_115 |     -.1554   .0071696   -21.67   0.000    -.1711801   -.1396198
  dummy2_116 |  -.1689509   .0071696   -23.56   0.000    -.1847311   -.1531708
  dummy2_117 |  -.2431231   .0070133   -34.67   0.000    -.2585592    -.227687
  dummy2_118 |  -.1603324   .0071696   -22.36   0.000    -.1761126   -.1445523
  dummy2_119 |  -.1734315   .0071696   -24.19   0.000    -.1892117   -.1576514
  dummy2_120 |  -.1602179   .0071696   -22.35   0.000    -.1759981   -.1444377
  dummy2_121 |   -.175587   .0071696   -24.49   0.000    -.1913672   -.1598069
  dummy2_122 |  -.1828246   .0071696   -25.50   0.000    -.1986048   -.1670445
  dummy2_123 |  -.1695536   .0071696   -23.65   0.000    -.1853337   -.1537734
  dummy2_124 |  -.1750334   .0071696   -24.41   0.000    -.1908136   -.1592533
  dummy2_125 |  -.1704772   .0071696   -23.78   0.000    -.1862573    -.154697
  dummy2_126 |  -.1353637   .0071696   -18.88   0.000    -.1511439   -.1195836
  dummy2_127 |   -.186037   .0071696   -25.95   0.000    -.2018172   -.1702569
  dummy2_128 |  -.1890066   .0071696   -26.36   0.000    -.2047867   -.1732264
  dummy2_129 |  -.1754655   .0071696   -24.47   0.000    -.1912457   -.1596853
  dummy2_130 |  -.0719102   .0071696   -10.03   0.000    -.0876904     -.05613
  dummy2_131 |  -.1613873   .0071696   -22.51   0.000    -.1771675   -.1456071
  dummy2_132 |  -.1740008   .0071696   -24.27   0.000     -.189781   -.1582207
  dummy2_133 |  -.1394837   .0079895   -17.46   0.000    -.1570685   -.1218988
  dummy2_134 |  -.1058314   .0079895   -13.25   0.000    -.1234162   -.0882465
  dummy2_135 |  -.1735851   .0079895   -21.73   0.000    -.1911699   -.1560002
  dummy2_136 |  -.1741563   .0077213   -22.56   0.000    -.1911508   -.1571617
  dummy2_137 |  -.1852863   .0079895   -23.19   0.000    -.2028712   -.1677015
  dummy2_138 |  -.1755144   .0079895   -21.97   0.000    -.1930993   -.1579296
  dummy2_139 |          0  (omitted)
  dummy2_140 |  -.1502577   .0079895   -18.81   0.000    -.1678426   -.1326729
  dummy2_141 |  -.1518857   .0079895   -19.01   0.000    -.1694706   -.1343009
  dummy2_142 |  -.1426044   .0079895   -17.85   0.000    -.1601892   -.1250196
  dummy2_143 |  -.1646281   .0079895   -20.61   0.000    -.1822129   -.1470433
  dummy2_144 |  -.1587529   .0078303   -20.27   0.000    -.1759872   -.1415186
  dummy2_145 |   -.101389   .0078303   -12.95   0.000    -.1186234   -.0841547
  dummy2_146 |  -.1452172   .0079895   -18.18   0.000    -.1628021   -.1276324
  dummy2_147 |  -.1486514   .0079895   -18.61   0.000    -.1662362   -.1310665
  dummy2_148 |  -.1148839   .0079895   -14.38   0.000    -.1324687    -.097299
  dummy2_149 |  -.1788306   .0079895   -22.38   0.000    -.1964154   -.1612457
  dummy2_150 |  -.1655475   .0079895   -20.72   0.000    -.1831324   -.1479627
  dummy2_151 |  -.1702398   .0079895   -21.31   0.000    -.1878247    -.152655
  dummy2_152 |  -.0807749   .0079895   -10.11   0.000    -.0983597     -.06319
  dummy2_153 |  -.1424299   .0079895   -17.83   0.000    -.1600147    -.124845
  dummy2_154 |  -.1596581   .0079895   -19.98   0.000     -.177243   -.1420733
  dummy2_155 |  -.1407418   .0059838   -23.52   0.000     -.153912   -.1275715
  dummy2_156 |          0  (omitted)
  dummy2_157 |  -.1525011   .0059838   -25.49   0.000    -.1656713   -.1393308
  dummy2_158 |   -.153453   .0059838   -25.64   0.000    -.1666232   -.1402827
  dummy2_159 |  -.1721588   .0059838   -28.77   0.000    -.1853291   -.1589885
  dummy2_160 |  -.1510107   .0059838   -25.24   0.000     -.164181   -.1378405
  dummy2_161 |  -.1043129   .0057613   -18.11   0.000    -.1169935   -.0916323
  dummy2_162 |  -.1058393   .0059838   -17.69   0.000    -.1190096    -.092669
  dummy2_163 |    -.15429   .0059838   -25.78   0.000    -.1674603   -.1411198
  dummy2_164 |  -.1501126   .0059838   -25.09   0.000    -.1632829   -.1369423
  dummy2_165 |  -.1455951   .0059838   -24.33   0.000    -.1587654   -.1324248
  dummy2_166 |  -.1789568   .0068282   -26.21   0.000    -.1939857    -.163928
  dummy2_167 |  -.1961665   .0068282   -28.73   0.000    -.2111954   -.1811377
  dummy2_168 |  -.1488529   .0059838   -24.88   0.000    -.1620232   -.1356827
  dummy2_169 |  -.1557678   .0059838   -26.03   0.000    -.1689381   -.1425976
  dummy2_170 |  -.1159085   .0059838   -19.37   0.000    -.1290787   -.1027382
  dummy2_171 |  -.1872671   .0059838   -31.30   0.000    -.2004374   -.1740968
  dummy2_172 |  -.1927356   .0059838   -32.21   0.000    -.2059059   -.1795654
  dummy2_173 |  -.1721412   .0059838   -28.77   0.000    -.1853115   -.1589709
  dummy2_174 |  -.1017931   .0053207   -19.13   0.000    -.1135038   -.0900824
  dummy2_175 |  -.1377402   .0059838   -23.02   0.000    -.1509105   -.1245699
  dummy2_176 |  -.1711499   .0059838   -28.60   0.000    -.1843202   -.1579796
  dummy2_177 |   -.116229   .0097265   -11.95   0.000    -.1376368   -.0948211
  dummy2_178 |  -.1495395   .0097265   -15.37   0.000    -.1709473   -.1281316
  dummy2_179 |  -.1528115   .0097265   -15.71   0.000    -.1742193   -.1314036
  dummy2_180 |  -.1621281   .0097265   -16.67   0.000     -.183536   -.1407203
  dummy2_181 |  -.1691313   .0097265   -17.39   0.000    -.1905392   -.1477234
  dummy2_182 |  -.1308724   .0097265   -13.46   0.000    -.1522803   -.1094646
  dummy2_183 |  -.1617298   .0097265   -16.63   0.000    -.1831377    -.140322
  dummy2_184 |  -.1268598   .0097265   -13.04   0.000    -.1482676   -.1054519
  dummy2_185 |  -.1318055   .0097265   -13.55   0.000    -.1532134   -.1103976
  dummy2_186 |  -.1489638   .0097265   -15.32   0.000    -.1703716   -.1275559
  dummy2_187 |  -.1384258   .0097265   -14.23   0.000    -.1598337    -.117018
  dummy2_188 |  -.1526222   .0097265   -15.69   0.000    -.1740301   -.1312143
  dummy2_189 |   -.140598   .0097265   -14.46   0.000    -.1620059   -.1191902
  dummy2_190 |  -.1454924   .0097265   -14.96   0.000    -.1669002   -.1240845
  dummy2_191 |  -.1834029   .0097265   -18.86   0.000    -.2048107    -.161995
  dummy2_192 |  -.0815979   .0097265    -8.39   0.000    -.1030057     -.06019
  dummy2_193 |  -.1374513   .0097265   -14.13   0.000    -.1588592   -.1160435
  dummy2_194 |  -.1501414   .0097265   -15.44   0.000    -.1715493   -.1287336
  dummy2_195 |          0  (omitted)
  dummy2_196 |          0  (omitted)
  dummy2_197 |  -.1372441   .0097265   -14.11   0.000     -.158652   -.1158363
  dummy2_198 |    -.17712   .0097265   -18.21   0.000    -.1985279   -.1557122
  dummy2_199 |  -.1498483   .0068434   -21.90   0.000    -.1649105   -.1347861
  dummy2_200 |  -.1778814   .0068434   -25.99   0.000    -.1929436   -.1628192
  dummy2_201 |  -.1709777   .0068434   -24.98   0.000    -.1860399   -.1559155
  dummy2_202 |  -.1715975   .0068434   -25.07   0.000    -.1866597   -.1565353
  dummy2_203 |  -.1468174   .0068434   -21.45   0.000    -.1618796   -.1317552
  dummy2_204 |   -.164436   .0068434   -24.03   0.000    -.1794982   -.1493738
  dummy2_205 |  -.1297334   .0067933   -19.10   0.000    -.1446853   -.1147814
  dummy2_206 |  -.1279975   .0068434   -18.70   0.000    -.1430597   -.1129353
  dummy2_207 |  -.1712287   .0068434   -25.02   0.000    -.1862909   -.1561665
  dummy2_208 |  -.1655414   .0068434   -24.19   0.000    -.1806036   -.1504792
  dummy2_209 |   -.180564   .0068434   -26.39   0.000    -.1956262   -.1655018
  dummy2_210 |  -.1617477   .0068434   -23.64   0.000    -.1768099   -.1466855
  dummy2_211 |  -.0344628    .007122    -4.84   0.001    -.0501381   -.0187875
  dummy2_212 |  -.1192764   .0068434   -17.43   0.000    -.1343386   -.1042142
  dummy2_213 |   -.144439   .0068434   -21.11   0.000    -.1595012   -.1293768
  dummy2_214 |  -.1830351   .0068434   -26.75   0.000    -.1980973   -.1679729
  dummy2_215 |  -.1963871   .0068434   -28.70   0.000    -.2114493   -.1813249
  dummy2_216 |  -.1767933   .0068434   -25.83   0.000    -.1918555    -.161731
  dummy2_217 |  -.1730348   .0068434   -25.28   0.000     -.188097   -.1579726
  dummy2_218 |  -.0916632   .0068434   -13.39   0.000    -.1067254    -.076601
  dummy2_219 |  -.1643636   .0068434   -24.02   0.000    -.1794258   -.1493013
  dummy2_220 |  -.1890687   .0068434   -27.63   0.000    -.2041309   -.1740065
  dummy2_221 |  -.1428701   .0070709   -20.21   0.000     -.158433   -.1273073
  dummy2_222 |  -.1955296   .0070709   -27.65   0.000    -.2110924   -.1799667
  dummy2_223 |   -.163144   .0070709   -23.07   0.000    -.1787068   -.1475811
  dummy2_224 |  -.1227256   .0070709   -17.36   0.000    -.1382885   -.1071628
  dummy2_225 |  -.1645244   .0070709   -23.27   0.000    -.1800873   -.1489616
  dummy2_226 |  -.1595847   .0070709   -22.57   0.000    -.1751475   -.1440218
  dummy2_227 |  -.1732628   .0070709   -24.50   0.000    -.1888257      -.1577
  dummy2_228 |  -.1396987   .0070709   -19.76   0.000    -.1552615   -.1241358
  dummy2_229 |   -.158386   .0070709   -22.40   0.000    -.1739489   -.1428232
  dummy2_230 |  -.1301776   .0070709   -18.41   0.000    -.1457404   -.1146148
  dummy2_231 |  -.1392171   .0070709   -19.69   0.000    -.1547799   -.1236543
  dummy2_232 |  -.1400546   .0070709   -19.81   0.000    -.1556174   -.1244918
  dummy2_233 |  -.1219938   .0070709   -17.25   0.000    -.1375566   -.1064309
  dummy2_234 |  -.1501995   .0070709   -21.24   0.000    -.1657623   -.1346366
  dummy2_235 |  -.1522218   .0070709   -21.53   0.000    -.1677846   -.1366589
  dummy2_236 |  -.1260071   .0070709   -17.82   0.000    -.1415699   -.1104442
  dummy2_237 |  -.1601092   .0070709   -22.64   0.000     -.175672   -.1445463
  dummy2_238 |  -.1628698   .0070709   -23.03   0.000    -.1784327    -.147307
  dummy2_239 |  -.1442175   .0070709   -20.40   0.000    -.1597803   -.1286547
  dummy2_240 |  -.0802591   .0070709   -11.35   0.000     -.095822   -.0646963
  dummy2_241 |  -.1261761   .0070709   -17.84   0.000    -.1417389   -.1106132
  dummy2_242 |  -.1595942   .0070709   -22.57   0.000     -.175157   -.1440313
  dummy2_243 |   -.161389   .0064947   -24.85   0.000    -.1756837   -.1470943
  dummy2_244 |  -.2026386   .0064947   -31.20   0.000    -.2169333   -.1883439
  dummy2_245 |  -.1590478   .0064947   -24.49   0.000    -.1733425   -.1447531
  dummy2_246 |  -.1120007   .0064947   -17.24   0.000    -.1262954    -.097706
  dummy2_247 |  -.1663039   .0064947   -25.61   0.000    -.1805986   -.1520092
  dummy2_248 |  -.1451121   .0064947   -22.34   0.000    -.1594068   -.1308174
  dummy2_249 |  -.0880815   .0084363   -10.44   0.000    -.1066497   -.0695132
  dummy2_250 |  -.1572383   .0064947   -24.21   0.000     -.171533   -.1429436
  dummy2_251 |   -.137665   .0064947   -21.20   0.000    -.1519597   -.1233703
  dummy2_252 |  -.1438412   .0064947   -22.15   0.000    -.1581359   -.1295465
  dummy2_253 |  -.1414558   .0064947   -21.78   0.000    -.1557505   -.1271611
  dummy2_254 |  -.1319443   .0064947   -20.32   0.000     -.146239   -.1176496
  dummy2_255 |  -.0344133   .0072058    -4.78   0.001    -.0502732   -.0185534
  dummy2_256 |  -.1243939   .0064947   -19.15   0.000    -.1386886   -.1100992
  dummy2_257 |  -.1318365   .0064947   -20.30   0.000    -.1461312   -.1175418
  dummy2_258 |  -.1427014   .0064947   -21.97   0.000    -.1569961   -.1284067
  dummy2_259 |  -.1987317   .0064947   -30.60   0.000    -.2130264    -.184437
  dummy2_260 |  -.1680555   .0064947   -25.88   0.000    -.1823502   -.1537608
  dummy2_261 |  -.1625276   .0064947   -25.02   0.000    -.1768223   -.1482329
  dummy2_262 |   -.122701   .0064947   -18.89   0.000    -.1369957   -.1084063
  dummy2_263 |  -.1524023   .0064947   -23.47   0.000     -.166697   -.1381076
  dummy2_264 |  -.1768221   .0064947   -27.23   0.000    -.1911168   -.1625275
       _cons |   .1444793   .0174149     8.30   0.000     .1061494    .1828092
------------------------------------------------------------------------------

. eststo table2_3

. 
. *with controls
. reg tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.pmr l.compindex y_* dummy* if tfpcorre
> ctedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, cl(country)

Linear regression                                      Number of obs =    1847
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2687
                                                       Root MSE      =  .06346

                                     (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------------
                   |               Robust
tfpcorrectedover~s |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0653297   .0232947     2.80   0.017     .0140584     .116601
                   |
     tecnogapklems |
               L1. |   .0074747   .0041321     1.81   0.098    -.0016199    .0165693
                   |
         ind_trend |   .0443503   .0051935     8.54   0.000     .0329194    .0557812
                   |
          tradelib |
               L1. |   .0143747   .0039662     3.62   0.004     .0056452    .0231042
                   |
               pmr |
               L1. |  -.0311823   .0196343    -1.59   0.141    -.0743971    .0120325
                   |
         compindex |
               L1. |   .0923923   .0242684     3.81   0.003     .0389778    .1458067
                   |
               y_1 |          0  (omitted)
               y_2 |          0  (omitted)
               y_3 |   .0046214   .0118498     0.39   0.704    -.0214599    .0307026
               y_4 |   -.019365    .013058    -1.48   0.166    -.0481055    .0093754
               y_5 |   .0064406   .0106323     0.61   0.557    -.0169609    .0298422
               y_6 |   .0080884   .0126233     0.64   0.535    -.0196953    .0358721
               y_7 |  -.0215382   .0116785    -1.84   0.092    -.0472425    .0041661
               y_8 |  -.0173579   .0162273    -1.07   0.308     -.053074    .0183582
               y_9 |  -.0141408   .0136065    -1.04   0.321    -.0440886     .015807
              y_10 |  -.0052702   .0148143    -0.36   0.729    -.0378762    .0273359
              y_11 |  -.0152022   .0156518    -0.97   0.352    -.0496516    .0192471
          dummy2_1 |   .1189292   .0240335     4.95   0.000     .0660317    .1718266
          dummy2_2 |   .0611799   .0237974     2.57   0.026     .0088021    .1135576
          dummy2_3 |   .1323339   .0216817     6.10   0.000     .0846128    .1800551
          dummy2_4 |   .1043631   .0227566     4.59   0.001     .0542761    .1544501
          dummy2_5 |    .126233    .022445     5.62   0.000     .0768318    .1756342
          dummy2_6 |   .1818628   .0223415     8.14   0.000     .1326894    .2310362
          dummy2_7 |   .1070565   .0211629     5.06   0.000     .0604773    .1536358
          dummy2_8 |    .126882   .0228797     5.55   0.000     .0765241    .1772398
          dummy2_9 |   .1034201   .0219772     4.71   0.001     .0550486    .1517916
         dummy2_10 |   .1249777   .0225328     5.55   0.000     .0753834    .1745719
         dummy2_11 |   .1409512   .0218996     6.44   0.000     .0927504     .189152
         dummy2_12 |   .1062311   .0226656     4.69   0.001     .0563445    .1561177
         dummy2_13 |    .092594   .0319832     2.90   0.015     .0221995    .1629886
         dummy2_14 |   .0956436   .0250921     3.81   0.003     .0404164    .1508709
         dummy2_15 |   .1290937   .0221972     5.82   0.000      .080238    .1779495
         dummy2_16 |   .1117781    .023341     4.79   0.001     .0604049    .1631512
         dummy2_17 |   .1360268   .0225741     6.03   0.000     .0863416    .1857121
         dummy2_18 |   .1329986   .0225554     5.90   0.000     .0833544    .1826428
         dummy2_19 |   .1504195   .0225958     6.66   0.000     .1006864    .2001526
         dummy2_20 |   .1222074   .0238193     5.13   0.000     .0697814    .1746333
         dummy2_21 |   .0929054   .0235142     3.95   0.002      .041151    .1446598
         dummy2_22 |   .1225276   .0223235     5.49   0.000     .0733939    .1716613
         dummy2_23 |    .217669   .0172563    12.61   0.000     .1796882    .2556497
         dummy2_24 |   .1390384   .0128706    10.80   0.000     .1107105    .1673663
         dummy2_25 |   .1407702   .0164121     8.58   0.000     .1046474    .1768929
         dummy2_26 |   .1763988    .013387    13.18   0.000     .1469343    .2058633
         dummy2_27 |   .2011848   .0165971    12.12   0.000     .1646548    .2377148
         dummy2_28 |   .1525507   .0141896    10.75   0.000     .1213196    .1837818
         dummy2_29 |   .1698101   .0136315    12.46   0.000     .1398073    .1998129
         dummy2_30 |   .1196431   .0121667     9.83   0.000     .0928643    .1464219
         dummy2_31 |    .178381   .0126055    14.15   0.000     .1506365    .2061255
         dummy2_32 |   .2090617   .0164602    12.70   0.000     .1728331    .2452903
         dummy2_33 |   .1442296   .0143321    10.06   0.000     .1126849    .1757744
         dummy2_34 |   .1945948   .0141908    13.71   0.000      .163361    .2258285
         dummy2_35 |   .1427996   .0137378    10.39   0.000     .1125629    .1730364
         dummy2_36 |   .1187144   .0135042     8.79   0.000     .0889919    .1484369
         dummy2_37 |   .1559362    .015102    10.33   0.000     .1226969    .1891755
         dummy2_38 |   .1703263    .017039    10.00   0.000     .1328237    .2078288
         dummy2_39 |   .1475911   .0180198     8.19   0.000     .1079299    .1872523
         dummy2_40 |   .1010951   .0180541     5.60   0.000     .0613583     .140832
         dummy2_41 |   .1415547   .0189962     7.45   0.000     .0997444     .183365
         dummy2_42 |   .1265587   .0189381     6.68   0.000     .0848762    .1682411
         dummy2_43 |   .1493058   .0168248     8.87   0.000     .1122748    .1863368
         dummy2_44 |   .1647287   .0181987     9.05   0.000     .1246735    .2047838
         dummy2_45 |   .1985918   .0166049    11.96   0.000     .1620446     .235139
         dummy2_46 |          0  (omitted)
         dummy2_47 |   .1477894   .0135506    10.91   0.000     .1179647    .1776141
         dummy2_48 |   .1848368    .012927    14.30   0.000     .1563847     .213289
         dummy2_49 |          0  (omitted)
         dummy2_50 |   .1741416   .0160665    10.84   0.000     .1387794    .2095037
         dummy2_51 |  -.0964264   .0132959    -7.25   0.000    -.1256905   -.0671622
         dummy2_52 |   .1444587   .0125818    11.48   0.000     .1167665     .172151
         dummy2_53 |   .2120297   .0141085    15.03   0.000      .180977    .2430824
         dummy2_54 |   .1652866   .0146485    11.28   0.000     .1330454    .1975277
         dummy2_55 |    .171444   .0144937    11.83   0.000     .1395437    .2033443
         dummy2_56 |   .2057855   .0123965    16.60   0.000      .178501    .2330699
         dummy2_57 |   .1807093   .0140624    12.85   0.000     .1497583    .2116604
         dummy2_58 |   .1280515   .0131117     9.77   0.000     .0991929    .1569102
         dummy2_59 |   .1883121   .0139174    13.53   0.000     .1576801     .218944
         dummy2_60 |   .2733262   .0163491    16.72   0.000      .237342    .3093103
         dummy2_61 |   .1709529    .016785    10.18   0.000     .1340093    .2078964
         dummy2_62 |   .1797998   .0157171    11.44   0.000     .1452066     .214393
         dummy2_63 |   .1619857   .0163489     9.91   0.000      .126002    .1979695
         dummy2_64 |   .2905002   .0175354    16.57   0.000      .251905    .3290954
         dummy2_65 |   .1434235   .0151939     9.44   0.000      .109982     .176865
         dummy2_66 |   .1700761   .0180966     9.40   0.000     .1302458    .2099064
         dummy2_67 |   .1726163   .0175923     9.81   0.000     .1338959    .2113366
         dummy2_68 |   .0511122    .020746     2.46   0.031     .0054505    .0967739
         dummy2_69 |   .1377907   .0165454     8.33   0.000     .1013745    .1742069
         dummy2_70 |   .1230988   .0160422     7.67   0.000     .0877903    .1584074
         dummy2_71 |   .1670463    .017253     9.68   0.000     .1290726    .2050199
         dummy2_72 |   .1423877   .0171708     8.29   0.000      .104595    .1801803
         dummy2_73 |   .0745779   .0183988     4.05   0.002     .0340824    .1150734
         dummy2_74 |   .1662086   .0165127    10.07   0.000     .1298644    .2025529
         dummy2_75 |   .1566912   .0169126     9.26   0.000     .1194668    .1939155
         dummy2_76 |   .1590611   .0176682     9.00   0.000     .1201737    .1979486
         dummy2_77 |   .1482626   .0168146     8.82   0.000      .111254    .1852712
         dummy2_78 |   .1497765   .0171074     8.76   0.000     .1121234    .1874296
         dummy2_79 |   .1661012   .0174426     9.52   0.000     .1277102    .2044922
         dummy2_80 |   .1600266   .0169065     9.47   0.000     .1228156    .1972376
         dummy2_81 |   .1315485   .0167992     7.83   0.000     .0945737    .1685234
         dummy2_82 |   .1791995   .0181353     9.88   0.000      .139284     .219115
         dummy2_83 |   .1484153   .0181783     8.16   0.000      .108405    .1884255
         dummy2_84 |   .1461717   .0175755     8.32   0.000     .1074882    .1848551
         dummy2_85 |   .1668943   .0179446     9.30   0.000     .1273985    .2063901
         dummy2_86 |      .2042   .0179744    11.36   0.000     .1646385    .2437614
         dummy2_87 |   .1215173   .0183575     6.62   0.000     .0811128    .1619218
         dummy2_88 |   .0808602    .017837     4.53   0.001     .0416013    .1201192
         dummy2_89 |   .2234333   .0172957    12.92   0.000     .1853657    .2615009
         dummy2_90 |   .0856274   .0379688     2.26   0.045     .0020586    .1691963
         dummy2_91 |    .106817   .0129374     8.26   0.000     .0783421    .1352919
         dummy2_92 |   .1937296   .0106508    18.19   0.000     .1702873    .2171719
         dummy2_93 |   .1846741   .0117444    15.72   0.000     .1588249    .2105232
         dummy2_94 |   .1886625    .011189    16.86   0.000     .1640355    .2132894
         dummy2_95 |   .3717906   .0118733    31.31   0.000     .3456577    .3979234
         dummy2_96 |   .1413623   .0110931    12.74   0.000     .1169466    .1657779
         dummy2_97 |   .2151361   .0104648    20.56   0.000     .1921032    .2381691
         dummy2_98 |   .1081095   .0130048     8.31   0.000     .0794862    .1367328
         dummy2_99 |   .0501908   .0105852     4.74   0.001     .0268929    .0734886
        dummy2_100 |   .2267809   .0135766    16.70   0.000     .1968989    .2566629
        dummy2_101 |   .1120603   .0151177     7.41   0.000     .0787864    .1453341
        dummy2_102 |  -.0611132   .0112464    -5.43   0.000    -.0858664   -.0363599
        dummy2_103 |   .2537106   .0109393    23.19   0.000     .2296334    .2777878
        dummy2_104 |   .1579043   .0154886    10.19   0.000     .1238143    .1919944
        dummy2_105 |   .1842842   .0173575    10.62   0.000     .1460807    .2224877
        dummy2_106 |   .1427311   .0166188     8.59   0.000     .1061535    .1793087
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .2122075   .0158803    13.36   0.000     .1772552    .2471599
        dummy2_110 |          0  (omitted)
        dummy2_111 |   .1756274   .0167049    10.51   0.000     .1388602    .2123946
        dummy2_112 |   .1189852   .0116623    10.20   0.000     .0933167    .1446537
        dummy2_113 |   .1432285   .0151943     9.43   0.000     .1097861    .1766708
        dummy2_114 |   .1420582   .0159652     8.90   0.000     .1069191    .1771974
        dummy2_115 |    .179795   .0160899    11.17   0.000     .1443813    .2152086
        dummy2_116 |   .1526991   .0161776     9.44   0.000     .1170923    .1883058
        dummy2_117 |   .0923975   .0154834     5.97   0.000     .0583186    .1264763
        dummy2_118 |   .1478852   .0133199    11.10   0.000     .1185684     .177202
        dummy2_119 |   .1610909   .0161551     9.97   0.000     .1255337     .196648
        dummy2_120 |   .1678568   .0169127     9.92   0.000     .1306322    .2050813
        dummy2_121 |   .1587148   .0156939    10.11   0.000     .1241727    .1932568
        dummy2_122 |   .1490598   .0157678     9.45   0.000     .1143552    .1837645
        dummy2_123 |   .1313574    .014573     9.01   0.000     .0992824    .1634324
        dummy2_124 |   .1219705   .0126386     9.65   0.000     .0941531    .1497879
        dummy2_125 |   .1654716   .0167189     9.90   0.000     .1286735    .2022698
        dummy2_126 |    .171345   .0170938    10.02   0.000     .1337218    .2089682
        dummy2_127 |   .1535206   .0176408     8.70   0.000     .1146934    .1923478
        dummy2_128 |   .1516746   .0172591     8.79   0.000     .1136875    .1896617
        dummy2_129 |   .1676485   .0179193     9.36   0.000     .1282084    .2070887
        dummy2_130 |   .2368514   .0178939    13.24   0.000     .1974673    .2762356
        dummy2_131 |   .1798398   .0169497    10.61   0.000     .1425337     .217146
        dummy2_132 |   .1745989   .0176273     9.91   0.000     .1358016    .2133963
        dummy2_133 |   .1168771   .0166048     7.04   0.000     .0803302    .1534241
        dummy2_134 |   .0142532   .0447231     0.32   0.756    -.0841818    .1126881
        dummy2_135 |   .0536401   .0116704     4.60   0.001     .0279539    .0793264
        dummy2_136 |   .0935753   .0169854     5.51   0.000     .0561908    .1309598
        dummy2_137 |   .1246214   .0180087     6.92   0.000     .0849845    .1642584
        dummy2_138 |    .105826   .0154516     6.85   0.000     .0718173    .1398346
        dummy2_139 |          0  (omitted)
        dummy2_140 |   .0910164   .0156624     5.81   0.000     .0565436    .1254892
        dummy2_141 |   .1511395   .0176477     8.56   0.000     .1122972    .1899819
        dummy2_142 |   .1388481   .0183939     7.55   0.000     .0983633    .1793329
        dummy2_143 |    .100804   .0130174     7.74   0.000     .0721529    .1294551
        dummy2_144 |   .1072666   .0139393     7.70   0.000     .0765863    .1379469
        dummy2_145 |   .0960232   .0104377     9.20   0.000     .0730499    .1189964
        dummy2_146 |   .1153859   .0143544     8.04   0.000     .0837921    .1469797
        dummy2_147 |   .1421344   .0179569     7.92   0.000     .1026114    .1816573
        dummy2_148 |   .1163299   .0145087     8.02   0.000     .0843966    .1482633
        dummy2_149 |  -.0066248   .0021164    -3.13   0.010     -.011283   -.0019667
        dummy2_150 |   .0871322   .0120422     7.24   0.000     .0606275    .1136369
        dummy2_151 |   .0648172   .0085174     7.61   0.000     .0460705    .0835639
        dummy2_152 |   .1233185   .0142552     8.65   0.000     .0919429     .154694
        dummy2_153 |   -.005458    .007559    -0.72   0.485    -.0220953    .0111794
        dummy2_154 |          0  (omitted)
        dummy2_155 |   .1188602   .0186507     6.37   0.000     .0778103    .1599101
        dummy2_156 |   .1551996    .021465     7.23   0.000     .1079556    .2024437
        dummy2_157 |   .1455029   .0169875     8.57   0.000     .1081136    .1828922
        dummy2_158 |   .0674338   .0241914     2.79   0.018     .0141889    .1206787
        dummy2_159 |   .1014429   .0169363     5.99   0.000     .0641664    .1387195
        dummy2_160 |   .1452358   .0178667     8.13   0.000     .1059116    .1845601
        dummy2_161 |     .24555   .0166009    14.79   0.000     .2090117    .2820884
        dummy2_162 |   .1542079   .0172859     8.92   0.000     .1161619    .1922538
        dummy2_163 |   .1169374    .016438     7.11   0.000     .0807576    .1531171
        dummy2_164 |   .1441538   .0180533     7.98   0.000     .1044188    .1838887
        dummy2_165 |   .1379699   .0172188     8.01   0.000     .1000716    .1758683
        dummy2_166 |   .1403003   .0168657     8.32   0.000     .1031791    .1774216
        dummy2_167 |  -.0011443   .0402661    -0.03   0.978    -.0897694    .0874808
        dummy2_168 |   .1024022   .0200433     5.11   0.000     .0582871    .1465173
        dummy2_169 |    .138318   .0181067     7.64   0.000     .0984654    .1781707
        dummy2_170 |   .1813062   .0195047     9.30   0.000     .1383766    .2242357
        dummy2_171 |   .1332792   .0189663     7.03   0.000     .0915346    .1750239
        dummy2_172 |   .1311321   .0185757     7.06   0.000     .0902473    .1720168
        dummy2_173 |   .1483714   .0190538     7.79   0.000     .1064343    .1903085
        dummy2_174 |   .2206667   .0201352    10.96   0.000     .1763495    .2649839
        dummy2_175 |    .147553   .0188639     7.82   0.000     .1060338    .1890722
        dummy2_176 |   .1325777   .0187289     7.08   0.000     .0913557    .1737997
        dummy2_177 |   .1594273   .0170832     9.33   0.000     .1218275    .1970271
        dummy2_178 |   .0360241   .0316631     1.14   0.279     -.033666    .1057141
        dummy2_179 |   .1828636   .0140066    13.06   0.000     .1520354    .2136918
        dummy2_180 |   .1626434   .0135966    11.96   0.000     .1327175    .1925694
        dummy2_181 |     .12955   .0148422     8.73   0.000     .0968825    .1622175
        dummy2_182 |   .1802546   .0151261    11.92   0.000     .1469622     .213547
        dummy2_183 |   .1285558   .0120694    10.65   0.000     .1019912    .1551203
        dummy2_184 |   .1364198   .0136225    10.01   0.000      .106437    .1664026
        dummy2_185 |   .1667466    .014275    11.68   0.000     .1353275    .1981657
        dummy2_186 |   .1669149   .0156714    10.65   0.000     .1324225    .2014073
        dummy2_187 |   .1742947   .0148291    11.75   0.000     .1416561    .2069334
        dummy2_188 |   .1407465   .0125793    11.19   0.000     .1130596    .1684333
        dummy2_189 |   .1384751   .0135142    10.25   0.000     .1087306    .1682197
        dummy2_190 |   .1098622   .0128196     8.57   0.000     .0816465    .1380779
        dummy2_191 |   .1481692   .0153376     9.66   0.000     .1144113    .1819271
        dummy2_192 |   .1945546   .0173449    11.22   0.000     .1563786    .2327305
        dummy2_193 |   .1495892   .0166057     9.01   0.000     .1130402    .1861381
        dummy2_194 |   .1381442   .0161768     8.54   0.000     .1025392    .1737491
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |   .2163637   .0158201    13.68   0.000     .1815439    .2511834
        dummy2_198 |   .1555405   .0162528     9.57   0.000     .1197683    .1913127
        dummy2_199 |    .138982   .0189259     7.34   0.000     .0973264    .1806376
        dummy2_200 |    .029866   .0255859     1.17   0.268    -.0264481    .0861801
        dummy2_201 |   .1033659   .0171418     6.03   0.000      .065637    .1410948
        dummy2_202 |   .0404287   .0239559     1.69   0.120    -.0122979    .0931553
        dummy2_203 |   .1597513    .018341     8.71   0.000      .119383    .2001196
        dummy2_204 |   .1276378   .0184032     6.94   0.000     .0871326     .168143
        dummy2_205 |   .0811832   .0154597     5.25   0.000     .0471567    .1152097
        dummy2_206 |   .1013732   .0166459     6.09   0.000     .0647357    .1380107
        dummy2_207 |   .1134164   .0167575     6.77   0.000     .0765334    .1502993
        dummy2_208 |   .1332746   .0178801     7.45   0.000     .0939207    .1726284
        dummy2_209 |   .0987409   .0172766     5.72   0.000     .0607154    .1367663
        dummy2_210 |   .1258748   .0171148     7.35   0.000     .0882054    .1635441
        dummy2_211 |   .2100899   .0186569    11.26   0.000     .1690264    .2511533
        dummy2_212 |   .1330886   .0176318     7.55   0.000     .0942813    .1718959
        dummy2_213 |   .1614695   .0176858     9.13   0.000     .1225433    .2003957
        dummy2_214 |   .1126453   .0187128     6.02   0.000     .0714587    .1538319
        dummy2_215 |   .1205418   .0187939     6.41   0.000     .0791767    .1619069
        dummy2_216 |   .1378121   .0182747     7.54   0.000     .0975897    .1780344
        dummy2_217 |   .1228871   .0186534     6.59   0.000     .0818312    .1639431
        dummy2_218 |   .1604915    .018593     8.63   0.000     .1195686    .2014144
        dummy2_219 |   .1121739    .018219     6.16   0.000     .0720742    .1522736
        dummy2_220 |   .1132461   .0184551     6.14   0.000     .0726266    .1538656
        dummy2_221 |   .1346994   .0272237     4.95   0.000     .0747804    .1946184
        dummy2_222 |    .098206   .0269325     3.65   0.004     .0389279    .1574841
        dummy2_223 |   .1170974   .0255803     4.58   0.001     .0607955    .1733994
        dummy2_224 |   .1181922   .0261261     4.52   0.001     .0606891    .1756953
        dummy2_225 |    .109279   .0255951     4.27   0.001     .0529445    .1656135
        dummy2_226 |   .1257521   .0259717     4.84   0.001     .0685886    .1829155
        dummy2_227 |   .0984096   .0258518     3.81   0.003     .0415102     .155309
        dummy2_228 |   .1170664   .0266725     4.39   0.001     .0583607    .1757722
        dummy2_229 |   .1200376   .0258273     4.65   0.001      .063192    .1768831
        dummy2_230 |   .1493355   .0264939     5.64   0.000     .0910228    .2076482
        dummy2_231 |   .1408464   .0256528     5.49   0.000      .084385    .1973079
        dummy2_232 |   .1316524   .0256081     5.14   0.000     .0752893    .1880155
        dummy2_233 |   .1089987      .0279     3.91   0.002     .0475913    .1704062
        dummy2_234 |   .1113003   .0265379     4.19   0.002     .0528906    .1697099
        dummy2_235 |   .1117847   .0260054     4.30   0.001     .0545472    .1690223
        dummy2_236 |   .1369045   .0268931     5.09   0.000     .0777133    .1960958
        dummy2_237 |   .1364737   .0265661     5.14   0.000     .0780022    .1949453
        dummy2_238 |   .1279841    .026111     4.90   0.000     .0705142     .185454
        dummy2_239 |   .1518547   .0262013     5.80   0.000     .0941859    .2095234
        dummy2_240 |    .182946   .0263634     6.94   0.000     .1249205    .2409716
        dummy2_241 |    .133671   .0278496     4.80   0.001     .0723745    .1949675
        dummy2_242 |   .1286169   .0260951     4.93   0.000     .0711821    .1860517
        dummy2_243 |   .1417117   .0245817     5.76   0.000     .0876079    .1958156
        dummy2_244 |   .0692437   .0249329     2.78   0.018     .0143667    .1241208
        dummy2_245 |   .1334718   .0233321     5.72   0.000     .0821182    .1848254
        dummy2_246 |   .1476963   .0231354     6.38   0.000     .0967756    .1986171
        dummy2_247 |   .1232533   .0234255     5.26   0.000      .071694    .1748126
        dummy2_248 |   .1479951   .0235696     6.28   0.000     .0961188    .1998714
        dummy2_249 |   .1941942   .0245087     7.92   0.000     .1402509    .2481376
        dummy2_250 |   .1164075   .0246687     4.72   0.001     .0621121     .170703
        dummy2_251 |   .1491108   .0233389     6.39   0.000     .0977423    .2004794
        dummy2_252 |   .1398098   .0238298     5.87   0.000     .0873608    .1922589
        dummy2_253 |    .147767    .023196     6.37   0.000     .0967129     .198821
        dummy2_254 |   .1448682   .0231807     6.25   0.000     .0938478    .1958887
        dummy2_255 |    .235849   .0246221     9.58   0.000     .1816562    .2900419
        dummy2_256 |   .1623926   .0235574     6.89   0.000     .1105432    .2142421
        dummy2_257 |   .1480697   .0232082     6.38   0.000     .0969888    .1991506
        dummy2_258 |   .1227772    .024762     4.96   0.000     .0682765     .177278
        dummy2_259 |   .0995911   .0237787     4.19   0.002     .0472545    .1519277
        dummy2_260 |   .1212985   .0235489     5.15   0.000     .0694679    .1731292
        dummy2_261 |   .1339462   .0234738     5.71   0.000     .0822807    .1856117
        dummy2_262 |   .1371247   .0236605     5.80   0.000     .0850482    .1892012
        dummy2_263 |   .1112304   .0261628     4.25   0.001     .0536464    .1688145
        dummy2_264 |   .1084344   .0232862     4.66   0.001     .0571818    .1596871
             _cons |  -.1360767   .0537107    -2.53   0.028    -.2542931   -.0178603
------------------------------------------------------------------------------------

. eststo table2_4

. reg tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.pmr l.CPIequalw y_* dummy* if tfpcorre
> ctedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, cl(country)

Linear regression                                      Number of obs =    1847
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2688
                                                       Root MSE      =  .06346

                                     (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------------
                   |               Robust
tfpcorrectedover~s |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0650825   .0233228     2.79   0.018     .0137494    .1164156
                   |
     tecnogapklems |
               L1. |   .0074722   .0041595     1.80   0.100    -.0016828    .0166271
                   |
         ind_trend |   .0462252   .0053725     8.60   0.000     .0344004      .05805
                   |
          tradelib |
               L1. |   .0144086   .0039322     3.66   0.004     .0057539    .0230633
                   |
               pmr |
               L1. |  -.0264328   .0203269    -1.30   0.220    -.0711721    .0183064
                   |
         CPIequalw |
               L1. |    .092476   .0209228     4.42   0.001     .0464251    .1385268
                   |
               y_1 |          0  (omitted)
               y_2 |          0  (omitted)
               y_3 |   .0043676   .0118222     0.37   0.719    -.0216529    .0303881
               y_4 |  -.0192906   .0130294    -1.48   0.167    -.0479681    .0093869
               y_5 |   .0077803   .0100974     0.77   0.457    -.0144439    .0300045
               y_6 |   .0114093    .011939     0.96   0.360    -.0148681    .0376868
               y_7 |  -.0176346   .0110957    -1.59   0.140     -.042056    .0067868
               y_8 |  -.0134302   .0149426    -0.90   0.388    -.0463187    .0194583
               y_9 |  -.0105907   .0130553    -0.81   0.434    -.0393253    .0181439
              y_10 |  -.0002602   .0138914    -0.02   0.985    -.0308349    .0303145
              y_11 |  -.0096948   .0148272    -0.65   0.527    -.0423292    .0229397
          dummy2_1 |   .1303282    .025269     5.16   0.000     .0747115    .1859449
          dummy2_2 |   .0725668   .0250558     2.90   0.015     .0174194    .1277142
          dummy2_3 |   .1436916   .0229527     6.26   0.000      .093173    .1942103
          dummy2_4 |   .1156933   .0237035     4.88   0.000     .0635222    .1678645
          dummy2_5 |   .1376117   .0237624     5.79   0.000     .0853111    .1899123
          dummy2_6 |   .1932318   .0236216     8.18   0.000      .141241    .2452226
          dummy2_7 |   .1183544   .0223136     5.30   0.000     .0692425    .1674663
          dummy2_8 |   .1381856    .023713     5.83   0.000     .0859935    .1903777
          dummy2_9 |   .1147628   .0230944     4.97   0.000     .0639325    .1655931
         dummy2_10 |   .1363373   .0236856     5.76   0.000     .0842055     .188469
         dummy2_11 |   .1522976   .0230561     6.61   0.000     .1015515    .2030438
         dummy2_12 |   .1175096   .0233171     5.04   0.000      .066189    .1688302
         dummy2_13 |   .1039369   .0320596     3.24   0.008     .0333743    .1744996
         dummy2_14 |   .1071349    .025764     4.16   0.002     .0504286    .1638412
         dummy2_15 |   .1404443   .0233285     6.02   0.000     .0890985    .1917901
         dummy2_16 |    .123173   .0246579     5.00   0.000     .0689014    .1774446
         dummy2_17 |   .1474085   .0239251     6.16   0.000     .0947497    .2000673
         dummy2_18 |   .1443744    .023904     6.04   0.000      .091762    .1969867
         dummy2_19 |   .1618027   .0239467     6.76   0.000     .1090963    .2145091
         dummy2_20 |   .1336108   .0251209     5.32   0.000       .07832    .1889015
         dummy2_21 |   .1042787   .0248182     4.20   0.001     .0496543    .1589032
         dummy2_22 |   .1338998   .0236824     5.65   0.000     .0817752    .1860244
         dummy2_23 |   .2231108   .0183394    12.17   0.000      .182746    .2634756
         dummy2_24 |   .1443977   .0135753    10.64   0.000     .1145186    .1742767
         dummy2_25 |   .1461837   .0175206     8.34   0.000      .107621    .1847464
         dummy2_26 |   .1817877   .0142558    12.75   0.000     .1504108    .2131645
         dummy2_27 |   .2066202   .0176901    11.68   0.000     .1676845    .2455558
         dummy2_28 |   .1578671   .0152403    10.36   0.000     .1243234    .1914108
         dummy2_29 |   .1756146   .0143644    12.23   0.000     .1439987    .2072305
         dummy2_30 |   .1249735   .0127557     9.80   0.000     .0968983    .1530487
         dummy2_31 |   .1837194   .0134325    13.68   0.000     .1541547    .2132841
         dummy2_32 |   .2144958   .0175417    12.23   0.000     .1758867    .2531049
         dummy2_33 |   .1496167   .0153619     9.74   0.000     .1158053    .1834281
         dummy2_34 |   .1999898   .0151928    13.16   0.000     .1665507    .2334289
         dummy2_35 |   .1481085    .013971    10.60   0.000     .1173585    .1788584
         dummy2_36 |   .1240058   .0143806     8.62   0.000     .0923544    .1556572
         dummy2_37 |   .1613559   .0161391    10.00   0.000     .1258341    .1968777
         dummy2_38 |    .175697   .0181012     9.71   0.000     .1358567    .2155374
         dummy2_39 |    .153021   .0191284     8.00   0.000     .1109196    .1951223
         dummy2_40 |   .1065302   .0191787     5.55   0.000      .064318    .1487423
         dummy2_41 |    .146975   .0201266     7.30   0.000     .1026766    .1912733
         dummy2_42 |   .1319946    .020062     6.58   0.000     .0878383    .1761508
         dummy2_43 |   .1546804   .0178919     8.65   0.000     .1153006    .1940601
         dummy2_44 |   .1701476   .0193231     8.81   0.000     .1276178    .2126774
         dummy2_45 |   .2144861   .0186619    11.49   0.000     .1734114    .2555607
         dummy2_46 |          0  (omitted)
         dummy2_47 |   .1636289    .015855    10.32   0.000     .1287322    .1985256
         dummy2_48 |   .2004481   .0147746    13.57   0.000     .1679295    .2329667
         dummy2_49 |          0  (omitted)
         dummy2_50 |   .1898103   .0182599    10.39   0.000     .1496206         .23
         dummy2_51 |  -.0800371   .0156598    -5.11   0.000     -.114504   -.0455701
         dummy2_52 |   .1602735   .0144692    11.08   0.000     .1284269    .1921201
         dummy2_53 |    .227867   .0162917    13.99   0.000     .1920093    .2637248
         dummy2_54 |   .1811398   .0168488    10.75   0.000     .1440559    .2182237
         dummy2_55 |   .1872883   .0166573    11.24   0.000     .1506258    .2239509
         dummy2_56 |   .2215939   .0145254    15.26   0.000     .1896237    .2535642
         dummy2_57 |   .1963442   .0159367    12.32   0.000     .1612678    .2314205
         dummy2_58 |   .1436734   .0150716     9.53   0.000     .1105011    .1768457
         dummy2_59 |   .2041512   .0159704    12.78   0.000     .1690005    .2393018
         dummy2_60 |   .2892186     .01853    15.61   0.000     .2484344    .3300028
         dummy2_61 |   .1868309   .0189426     9.86   0.000     .1451386    .2285233
         dummy2_62 |   .1956555   .0180499    10.84   0.000      .155928    .2353831
         dummy2_63 |   .1778521   .0185814     9.57   0.000     .1369546    .2187496
         dummy2_64 |   .3063981   .0195737    15.65   0.000     .2633166    .3494796
         dummy2_65 |   .1592903   .0175854     9.06   0.000     .1205851    .1979954
         dummy2_66 |   .1857607   .0203036     9.15   0.000     .1410729    .2304486
         dummy2_67 |   .1849948      .0188     9.84   0.000     .1436163    .2263733
         dummy2_68 |   .0633086    .020507     3.09   0.010      .018173    .1084441
         dummy2_69 |   .1501499   .0178216     8.43   0.000     .1109248     .189375
         dummy2_70 |   .1353775   .0165455     8.18   0.000     .0989612    .1717939
         dummy2_71 |   .1794152   .0185303     9.68   0.000     .1386303    .2202001
         dummy2_72 |   .1547587   .0184791     8.37   0.000     .1140865     .195431
         dummy2_73 |   .0862637   .0191952     4.49   0.001     .0440152    .1285121
         dummy2_74 |   .1785554   .0176801    10.10   0.000     .1396417     .217469
         dummy2_75 |   .1690561   .0182006     9.29   0.000     .1289969    .2091153
         dummy2_76 |   .1714412   .0189531     9.05   0.000     .1297256    .2131568
         dummy2_77 |   .1606258    .018105     8.87   0.000      .120777    .2004747
         dummy2_78 |    .162145   .0183995     8.81   0.000     .1216481     .202642
         dummy2_79 |   .1784667   .0184977     9.65   0.000     .1377535    .2191799
         dummy2_80 |   .1724723   .0180767     9.54   0.000     .1326858    .2122587
         dummy2_81 |   .1439087   .0179967     8.00   0.000     .1042982    .1835192
         dummy2_82 |   .1915878   .0194742     9.84   0.000     .1487254    .2344503
         dummy2_83 |    .160803   .0195227     8.24   0.000     .1178339    .2037722
         dummy2_84 |    .158549   .0189589     8.36   0.000     .1168207    .2002774
         dummy2_85 |   .1792767   .0193049     9.29   0.000      .136787    .2217665
         dummy2_86 |   .2165827   .0193326    11.20   0.000      .174032    .2591335
         dummy2_87 |   .1338965   .0196927     6.80   0.000     .0905533    .1772398
         dummy2_88 |   .0932402   .0192065     4.85   0.001     .0509671    .1355133
         dummy2_89 |   .2264216   .0180286    12.56   0.000     .1867408    .2661023
         dummy2_90 |   .0883037    .036778     2.40   0.035     .0073559    .1692516
         dummy2_91 |   .1102243   .0137873     7.99   0.000     .0798787    .1405698
         dummy2_92 |   .1970945   .0105813    18.63   0.000     .1738052    .2203838
         dummy2_93 |   .1881166    .012443    15.12   0.000     .1607298    .2155034
         dummy2_94 |   .1920641   .0118189    16.25   0.000      .166051    .2180773
         dummy2_95 |   .3751161   .0125378    29.92   0.000     .3475207    .4027115
         dummy2_96 |   .1447168   .0110649    13.08   0.000     .1203631    .1690704
         dummy2_97 |   .2184999   .0104957    20.82   0.000      .195399    .2416008
         dummy2_98 |   .1115481   .0138298     8.07   0.000      .081109    .1419872
         dummy2_99 |   .0535487   .0108012     4.96   0.000     .0297755    .0773219
        dummy2_100 |   .2300626   .0128111    17.96   0.000     .2018657    .2582596
        dummy2_101 |   .1152842   .0143706     8.02   0.000     .0836546    .1469138
        dummy2_102 |  -.0577859   .0113619    -5.09   0.000    -.0827932   -.0327785
        dummy2_103 |   .2571289   .0112501    22.86   0.000     .2323675    .2818903
        dummy2_104 |   .1605216   .0163808     9.80   0.000     .1244677    .1965755
        dummy2_105 |   .1872804   .0181118    10.34   0.000     .1474166    .2271442
        dummy2_106 |   .1457809   .0173746     8.39   0.000     .1075396    .1840223
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .2151491   .0166503    12.92   0.000     .1785021    .2517962
        dummy2_110 |          0  (omitted)
        dummy2_111 |   .1823574   .0179006    10.19   0.000     .1429584    .2217564
        dummy2_112 |    .125596   .0124737    10.07   0.000     .0981415    .1530504
        dummy2_113 |   .1499228   .0164198     9.13   0.000      .113783    .1860626
        dummy2_114 |   .1487719   .0171719     8.66   0.000     .1109768    .1865671
        dummy2_115 |   .1865029   .0173196    10.77   0.000     .1483828     .224623
        dummy2_116 |   .1594056    .017417     9.15   0.000     .1210711    .1977401
        dummy2_117 |   .0991658   .0167532     5.92   0.000     .0622922    .1360394
        dummy2_118 |   .1545452   .0143319    10.78   0.000     .1230009    .1860895
        dummy2_119 |   .1677971   .0173945     9.65   0.000     .1295121     .206082
        dummy2_120 |   .1745806   .0181368     9.63   0.000     .1346619    .2144994
        dummy2_121 |   .1654166   .0169284     9.77   0.000     .1281575    .2026757
        dummy2_122 |   .1557637   .0169979     9.16   0.000     .1183516    .1931759
        dummy2_123 |   .1380571   .0156469     8.82   0.000     .1036185    .1724957
        dummy2_124 |    .128629   .0136014     9.46   0.000     .0986925    .1585655
        dummy2_125 |   .1721922   .0179411     9.60   0.000      .132704    .2116803
        dummy2_126 |   .1780699   .0183267     9.72   0.000     .1377331    .2184067
        dummy2_127 |   .1602473   .0188851     8.49   0.000     .1186815     .201813
        dummy2_128 |   .1583903   .0185205     8.55   0.000      .117627    .1991537
        dummy2_129 |   .1743695   .0191741     9.09   0.000     .1321676    .2165714
        dummy2_130 |   .2435717   .0191473    12.72   0.000     .2014288    .2857146
        dummy2_131 |   .1865559   .0181841    10.26   0.000      .146533    .2265787
        dummy2_132 |   .1813187   .0188901     9.60   0.000     .1397419    .2228956
        dummy2_133 |   .1225377   .0170281     7.20   0.000     .0850592    .1600162
        dummy2_134 |   .0208209   .0434987     0.48   0.642    -.0749192     .116561
        dummy2_135 |   .0579216   .0120337     4.81   0.001     .0314356    .0844077
        dummy2_136 |   .0999025   .0173541     5.76   0.000     .0617063    .1380987
        dummy2_137 |   .1314842   .0185086     7.10   0.000     .0907472    .1722213
        dummy2_138 |   .1113335   .0159446     6.98   0.000     .0762396    .1464275
        dummy2_139 |          0  (omitted)
        dummy2_140 |   .0964229   .0161139     5.98   0.000     .0609564    .1318895
        dummy2_141 |   .1574211   .0182202     8.64   0.000     .1173186    .1975236
        dummy2_142 |   .1453055   .0189467     7.67   0.000      .103604     .187007
        dummy2_143 |   .1055246   .0134301     7.86   0.000     .0759651    .1350841
        dummy2_144 |    .112202   .0143629     7.81   0.000     .0805895    .1438145
        dummy2_145 |   .0991232   .0105761     9.37   0.000     .0758454    .1224009
        dummy2_146 |   .1201284   .0147007     8.17   0.000     .0877724    .1524844
        dummy2_147 |   .1486976   .0184569     8.06   0.000     .1080742    .1893209
        dummy2_148 |   .1212687   .0149459     8.11   0.000      .088373    .1541643
        dummy2_149 |  -.0062136   .0021332    -2.91   0.014    -.0109087   -.0015184
        dummy2_150 |   .0914215   .0124555     7.34   0.000     .0640071     .118836
        dummy2_151 |   .0677775   .0087825     7.72   0.000     .0484474    .0871077
        dummy2_152 |   .1283932   .0147236     8.72   0.000     .0959867    .1607996
        dummy2_153 |   -.003887   .0076889    -0.51   0.623    -.0208101     .013036
        dummy2_154 |          0  (omitted)
        dummy2_155 |   .1233535   .0196807     6.27   0.000     .0800366    .1666704
        dummy2_156 |   .1625766    .021978     7.40   0.000     .1142033    .2109498
        dummy2_157 |   .1499645   .0180836     8.29   0.000     .1101628    .1897663
        dummy2_158 |   .0717234   .0238728     3.00   0.012     .0191798     .124267
        dummy2_159 |   .1058837   .0177974     5.95   0.000     .0667119    .1450554
        dummy2_160 |    .149717   .0190024     7.88   0.000      .107893    .1915409
        dummy2_161 |    .250505    .017088    14.66   0.000     .2128947    .2881154
        dummy2_162 |   .1586407   .0180212     8.80   0.000     .1189763    .1983052
        dummy2_163 |   .1213604   .0172505     7.04   0.000     .0833923    .1593284
        dummy2_164 |   .1486367   .0191156     7.78   0.000     .1065635    .1907098
        dummy2_165 |   .1424284   .0182181     7.82   0.000     .1023306    .1825263
        dummy2_166 |   .1447375   .0177202     8.17   0.000     .1057356    .1837394
        dummy2_167 |   .0030447   .0394406     0.08   0.940    -.0837635    .0898529
        dummy2_168 |   .1064781   .0201881     5.27   0.000     .0620444    .1509119
        dummy2_169 |   .1428007     .01919     7.44   0.000     .1005639    .1850375
        dummy2_170 |   .1858201   .0206796     8.99   0.000     .1403046    .2313356
        dummy2_171 |   .1377833   .0201864     6.83   0.000     .0933532    .1822134
        dummy2_172 |   .1356287   .0198145     6.84   0.000     .0920173    .1792402
        dummy2_173 |   .1528774   .0202663     7.54   0.000     .1082715    .1974832
        dummy2_174 |   .2251917   .0212902    10.58   0.000     .1783322    .2720511
        dummy2_175 |   .1520554   .0200245     7.59   0.000     .1079817     .196129
        dummy2_176 |   .1370783   .0199547     6.87   0.000     .0931584    .1809983
        dummy2_177 |   .1666186   .0179808     9.27   0.000      .127043    .2061941
        dummy2_178 |   .0428695   .0303838     1.41   0.186    -.0240049    .1097439
        dummy2_179 |    .190001    .014995    12.67   0.000     .1569973    .2230047
        dummy2_180 |    .169772   .0144331    11.76   0.000     .1380049     .201539
        dummy2_181 |   .1366964   .0158104     8.65   0.000     .1018979    .1714948
        dummy2_182 |   .1874039   .0161571    11.60   0.000     .1518425    .2229653
        dummy2_183 |   .1356512   .0129852    10.45   0.000      .107071    .1642314
        dummy2_184 |   .1435366    .014181    10.12   0.000     .1123245    .1747487
        dummy2_185 |   .1738794   .0152304    11.42   0.000     .1403574    .2074013
        dummy2_186 |   .1740792   .0167031    10.42   0.000      .137316    .2108424
        dummy2_187 |   .1814403   .0158087    11.48   0.000     .1466455    .2162351
        dummy2_188 |   .1478405   .0133116    11.11   0.000     .1185418    .1771391
        dummy2_189 |   .1455451    .013694    10.63   0.000     .1154048    .1756854
        dummy2_190 |   .1169365   .0130952     8.93   0.000     .0881141    .1457589
        dummy2_191 |   .1553272   .0162837     9.54   0.000     .1194869    .1911675
        dummy2_192 |   .2017426   .0183241    11.01   0.000     .1614114    .2420737
        dummy2_193 |   .1567671   .0176511     8.88   0.000     .1179172    .1956171
        dummy2_194 |   .1452982   .0173236     8.39   0.000     .1071693    .1834271
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |   .2235265    .016936    13.20   0.000     .1862507    .2608023
        dummy2_198 |    .162701   .0173719     9.37   0.000     .1244658    .2009363
        dummy2_199 |   .1486048   .0202743     7.33   0.000     .1039814    .1932283
        dummy2_200 |    .039236    .025185     1.56   0.148    -.0161959    .0946678
        dummy2_201 |   .1129513   .0185041     6.10   0.000     .0722241    .1536784
        dummy2_202 |   .0498471    .023816     2.09   0.060    -.0025716    .1022657
        dummy2_203 |   .1693666   .0197534     8.57   0.000     .1258896    .2128437
        dummy2_204 |    .137245   .0198372     6.92   0.000     .0935835    .1809064
        dummy2_205 |   .0906425   .0159804     5.67   0.000     .0554699    .1258151
        dummy2_206 |   .1109423     .01795     6.18   0.000     .0714346      .15045
        dummy2_207 |   .1229877   .0180006     6.83   0.000     .0833687    .1626067
        dummy2_208 |   .1428765   .0192227     7.43   0.000     .1005677    .1851854
        dummy2_209 |   .1083251   .0186328     5.81   0.000     .0673145    .1493357
        dummy2_210 |   .1354534   .0184152     7.36   0.000     .0949219    .1759849
        dummy2_211 |   .2194799   .0189386    11.59   0.000     .1777963    .2611634
        dummy2_212 |   .1426895   .0188592     7.57   0.000     .1011807    .1841984
        dummy2_213 |   .1710597   .0188874     9.06   0.000     .1294887    .2126306
        dummy2_214 |   .1222644   .0201483     6.07   0.000     .0779183    .1666106
        dummy2_215 |   .1301577   .0202263     6.44   0.000       .08564    .1746754
        dummy2_216 |   .1474262   .0197117     7.48   0.000     .1040411    .1908114
        dummy2_217 |   .1324926   .0201079     6.59   0.000     .0882354    .1767499
        dummy2_218 |   .1701093   .0200313     8.49   0.000     .1260207    .2141979
        dummy2_219 |   .1217762   .0196759     6.19   0.000     .0784698    .1650827
        dummy2_220 |   .1228312   .0199138     6.17   0.000     .0790012    .1666613
        dummy2_221 |   .1463892   .0282315     5.19   0.000      .084252    .2085263
        dummy2_222 |   .1098845   .0280474     3.92   0.002     .0481527    .1716164
        dummy2_223 |   .1287671   .0266392     4.83   0.001     .0701347    .1873995
        dummy2_224 |   .1298146   .0268464     4.84   0.001     .0707261     .188903
        dummy2_225 |   .1209405    .026574     4.55   0.001     .0624515    .1794295
        dummy2_226 |   .1374359   .0270599     5.08   0.000     .0778776    .1969943
        dummy2_227 |   .1100359   .0268704     4.10   0.002     .0508946    .1691772
        dummy2_228 |   .1287091    .027591     4.66   0.001     .0679818    .1894364
        dummy2_229 |   .1317097   .0268747     4.90   0.000     .0725589    .1908605
        dummy2_230 |   .1610251   .0275589     5.84   0.000     .1003683    .2216819
        dummy2_231 |   .1525135   .0266844     5.72   0.000     .0937815    .2112455
        dummy2_232 |   .1433056   .0265577     5.40   0.000     .0848526    .2017586
        dummy2_233 |   .1206262   .0285185     4.23   0.001     .0578576    .1833949
        dummy2_234 |   .1230735   .0272889     4.51   0.001     .0630109     .183136
        dummy2_235 |   .1234516   .0269693     4.58   0.001     .0640927    .1828106
        dummy2_236 |   .1486044   .0280354     5.30   0.000     .0868989    .2103098
        dummy2_237 |   .1481767   .0277029     5.35   0.000     .0872031    .2091503
        dummy2_238 |   .1396746   .0272807     5.12   0.000     .0796302     .199719
        dummy2_239 |   .1635516   .0273482     5.98   0.000     .1033587    .2237445
        dummy2_240 |   .1946425   .0275131     7.07   0.000     .1340866    .2551985
        dummy2_241 |   .1453652   .0290212     5.01   0.000       .08149    .2092404
        dummy2_242 |   .1403177   .0272566     5.15   0.000     .0803263     .200309
        dummy2_243 |   .1549754   .0261515     5.93   0.000     .0974163    .2125345
        dummy2_244 |   .0824589   .0263195     3.13   0.010     .0245301    .1403877
        dummy2_245 |   .1467112   .0249335     5.88   0.000      .091833    .2015893
        dummy2_246 |    .160895   .0244427     6.58   0.000      .107097     .214693
        dummy2_247 |   .1364937   .0249973     5.46   0.000     .0814751    .1915124
        dummy2_248 |   .1612416     .02518     6.40   0.000     .1058209    .2166624
        dummy2_249 |   .2076096   .0260542     7.97   0.000     .1502648    .2649544
        dummy2_250 |   .1296434   .0261735     4.95   0.000     .0720359     .187251
        dummy2_251 |   .1623509   .0249285     6.51   0.000     .1074837    .2172181
        dummy2_252 |    .153059   .0254045     6.02   0.000      .097144     .208974
        dummy2_253 |   .1610031   .0247773     6.50   0.000     .1064686    .2155376
        dummy2_254 |    .158102   .0247396     6.39   0.000     .1036505    .2125535
        dummy2_255 |   .2490908   .0260249     9.57   0.000     .1918104    .3063712
        dummy2_256 |   .1756532   .0249965     7.03   0.000     .1206363      .23067
        dummy2_257 |    .161293   .0246707     6.54   0.000     .1069933    .2155928
        dummy2_258 |   .1360319   .0263362     5.17   0.000     .0780663    .1939976
        dummy2_259 |    .112843   .0253986     4.44   0.001      .056941     .168745
        dummy2_260 |   .1345413   .0251777     5.34   0.000     .0791255    .1899571
        dummy2_261 |   .1471927   .0251067     5.86   0.000     .0919333    .2024522
        dummy2_262 |   .1503731   .0252856     5.95   0.000     .0947199    .2060263
        dummy2_263 |   .1244764   .0276746     4.50   0.001     .0635652    .1853877
        dummy2_264 |   .1216774   .0249276     4.88   0.000     .0668122    .1765426
             _cons |  -.1503865   .0527542    -2.85   0.016    -.2664977   -.0342753
------------------------------------------------------------------------------------

. eststo table2_5

. reg LPgrowth labourproductivityleaderklems l.tecnogapklemsLP ind_trend l.tradelib l.pmr l.compindex y_* dummy* if LPgrowth
> >-0.282 & LPgrowth<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, cl(country)

Linear regression                                      Number of obs =    1863
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2718
                                                       Root MSE      =  .06701

                                                (Std. Err. adjusted for 12 clusters in country)
-----------------------------------------------------------------------------------------------
                              |               Robust
                     LPgrowth |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
------------------------------+----------------------------------------------------------------
labourproductivityleaderklems |  -.3650757   .1727999    -2.11   0.058    -.7454056    .0152543
                              |
              tecnogapklemsLP |
                          L1. |   .0102481   .0020624     4.97   0.000     .0057087    .0147874
                              |
                    ind_trend |   .0623073   .0048785    12.77   0.000     .0515698    .0730449
                              |
                     tradelib |
                          L1. |   .0217067   .0090705     2.39   0.036     .0017427    .0416707
                              |
                          pmr |
                          L1. |  -.0150629   .0162871    -0.92   0.375    -.0509105    .0207848
                              |
                    compindex |
                          L1. |   .0846184   .0229519     3.69   0.004     .0341016    .1351351
                              |
                          y_1 |          0  (omitted)
                          y_2 |          0  (omitted)
                          y_3 |  -.0031372   .0166113    -0.19   0.854    -.0396983     .033424
                          y_4 |  -.0164146   .0137712    -1.19   0.258    -.0467248    .0138956
                          y_5 |   .0095945   .0102048     0.94   0.367     -.012866     .032055
                          y_6 |   .0165307    .011864     1.39   0.191    -.0095817    .0426432
                          y_7 |   -.015073   .0111715    -1.35   0.204    -.0396613    .0095152
                          y_8 |  -.0119911   .0149306    -0.80   0.439     -.044853    .0208709
                          y_9 |  -.0076735     .01274    -0.60   0.559     -.035714     .020367
                         y_10 |  -.0008643   .0142341    -0.06   0.953    -.0321934    .0304647
                         y_11 |  -.0101946   .0139707    -0.73   0.481    -.0409439    .0205547
                     dummy2_1 |    .816733   .1503841     5.43   0.000     .4857397    1.147726
                     dummy2_2 |   .7584905    .143805     5.27   0.000     .4419778    1.075003
                     dummy2_3 |   .7940183   .1485591     5.34   0.000     .4670418    1.120995
                     dummy2_4 |    .748694    .142283     5.26   0.000     .4355313    1.061857
                     dummy2_5 |   .8121256   .1532933     5.30   0.000     .4747293    1.149522
                     dummy2_6 |   .7974485   .1502584     5.31   0.000     .4667321    1.128165
                     dummy2_7 |   .5608127   .1111001     5.05   0.000     .3162831    .8053422
                     dummy2_8 |    .797596   .1385737     5.76   0.000     .4925973    1.102595
                     dummy2_9 |   .7801715   .1457969     5.35   0.000     .4592747    1.101068
                    dummy2_10 |   .7967203   .1469727     5.42   0.000     .4732356    1.120205
                    dummy2_11 |   .7978463   .1475032     5.41   0.000     .4731941    1.122499
                    dummy2_12 |   .7759897   .1365928     5.68   0.000      .475351    1.076628
                    dummy2_13 |   .8522175   .1267693     6.72   0.000     .5732002    1.131235
                    dummy2_14 |   .7684491   .1399184     5.49   0.000     .4604908    1.076407
                    dummy2_15 |   .7882996   .1453252     5.42   0.000      .468441    1.108158
                    dummy2_16 |   .7928987   .1524969     5.20   0.000     .4572553    1.128542
                    dummy2_17 |   .8069408   .1534766     5.26   0.000      .469141    1.144741
                    dummy2_18 |   .7639649   .1486572     5.14   0.000     .4367726    1.091157
                    dummy2_19 |   .8131465    .152802     5.32   0.000     .4768317    1.149461
                    dummy2_20 |   .8274487   .1504783     5.50   0.000     .4962483    1.158649
                    dummy2_21 |   .7858631    .151703     5.18   0.000     .4519671    1.119759
                    dummy2_22 |   .7787644   .1481682     5.26   0.000     .4526483    1.104881
                    dummy2_23 |   .8727165   .1635166     5.34   0.000     .5128188    1.232614
                    dummy2_24 |   .5322718   .1082302     4.92   0.000     .2940588    .7704849
                    dummy2_25 |    .798015   .1596487     5.00   0.000     .4466307    1.149399
                    dummy2_26 |   .8070685   .1518589     5.31   0.000     .4728292    1.141308
                    dummy2_27 |   .8443984   .1612714     5.24   0.000     .4894424    1.199354
                    dummy2_28 |   .7773315   .1564007     4.97   0.000      .433096    1.121567
                    dummy2_29 |   .7747092   .1415293     5.47   0.000     .4632054    1.086213
                    dummy2_30 |   .7735662   .1472305     5.25   0.000     .4495141    1.097618
                    dummy2_31 |    .861934   .1528928     5.64   0.000     .5254192    1.198449
                    dummy2_32 |   .8701335   .1624391     5.36   0.000     .5126074    1.227659
                    dummy2_33 |   .7796113   .1567526     4.97   0.000     .4346012    1.124621
                    dummy2_34 |   .8314141   .1552594     5.35   0.000     .4896904    1.173138
                    dummy2_35 |   .7959214   .1414688     5.63   0.000     .4845507    1.107292
                    dummy2_36 |   .8292365   .1525549     5.44   0.000     .4934655    1.165007
                    dummy2_37 |   .7903703   .1566845     5.04   0.000       .44551    1.135231
                    dummy2_38 |   .8221277    .161898     5.08   0.000     .4657927    1.178463
                    dummy2_39 |   .8123293    .165941     4.90   0.000     .4470955    1.177563
                    dummy2_40 |   .7413461   .1655544     4.48   0.001     .3769634    1.105729
                    dummy2_41 |   .8193968   .1671775     4.90   0.000     .4514415    1.187352
                    dummy2_42 |   .9041782     .16597     5.45   0.000     .5388808    1.269476
                    dummy2_43 |   .8384693   .1653008     5.07   0.000     .4746447    1.202294
                    dummy2_44 |   .8113062   .1648932     4.92   0.000     .4483787    1.174234
                    dummy2_45 |   .8914804   .1620475     5.50   0.000     .5348162    1.248145
                    dummy2_46 |          0  (omitted)
                    dummy2_47 |   .8144685    .158874     5.13   0.000     .4647892    1.164148
                    dummy2_48 |   .8192673   .1510098     5.43   0.000     .4868969    1.151638
                    dummy2_49 |          0  (omitted)
                    dummy2_50 |   .8297077   .1606145     5.17   0.000     .4761977    1.183218
                    dummy2_51 |   .5642679   .1563305     3.61   0.004     .2201867    .9083491
                    dummy2_52 |   .7972397   .1535891     5.19   0.000     .4591924    1.135287
                    dummy2_53 |   .8560516   .1595037     5.37   0.000     .5049863    1.207117
                    dummy2_54 |   .8259752   .1608535     5.13   0.000      .471939    1.180011
                    dummy2_55 |   .8121665   .1599632     5.08   0.000     .4600898    1.164243
                    dummy2_56 |   .8606739   .1554201     5.54   0.000     .5185964    1.202751
                    dummy2_57 |    .862913   .1525646     5.66   0.000     .5271206    1.198705
                    dummy2_58 |   .8000815   .1526022     5.24   0.000     .4642064    1.135957
                    dummy2_59 |   .8640398   .1571863     5.50   0.000     .5180749    1.210005
                    dummy2_60 |    .916908   .1634699     5.61   0.000     .5571132    1.276703
                    dummy2_61 |   .8309733    .164782     5.04   0.000     .4682905    1.193656
                    dummy2_62 |   .8329014   .1643233     5.07   0.000     .4712282    1.194575
                    dummy2_63 |   .8114618    .164648     4.93   0.000     .4490741    1.173849
                    dummy2_64 |   .9955425   .1638279     6.08   0.000     .6349597    1.356125
                    dummy2_65 |   .8623777   .1644787     5.24   0.000     .5003625    1.224393
                    dummy2_66 |   .8494216   .1644725     5.16   0.000     .4874202    1.211423
                    dummy2_67 |   .8500402   .1559928     5.45   0.000     .5067024    1.193378
                    dummy2_68 |   .5957928   .1094633     5.44   0.000     .3548656      .83672
                    dummy2_69 |   .7998649   .1554445     5.15   0.000     .4577339    1.141996
                    dummy2_70 |   .7830772   .1432786     5.47   0.000     .4677231    1.098431
                    dummy2_71 |   .8439371   .1581287     5.34   0.000     .4958982    1.191976
                    dummy2_72 |   .8262415   .1585641     5.21   0.000     .4772444    1.175239
                    dummy2_73 |   .6783171   .1315935     5.15   0.000     .3886817    .9679525
                    dummy2_74 |   .8509522   .1542008     5.52   0.000     .5115585    1.190346
                    dummy2_75 |   .8305558    .158022     5.26   0.000     .4827518     1.17836
                    dummy2_76 |   .8393698   .1589107     5.28   0.000     .4896097     1.18913
                    dummy2_77 |   .8184599   .1579487     5.18   0.000     .4708173    1.166103
                    dummy2_78 |   .8233615   .1584709     5.20   0.000     .4745695    1.172154
                    dummy2_79 |   .8433678   .1531604     5.51   0.000     .5062639    1.180472
                    dummy2_80 |   .8291474   .1554602     5.33   0.000     .4869819    1.171313
                    dummy2_81 |   .8040371    .155496     5.17   0.000     .4617927    1.146281
                    dummy2_82 |    .892035   .1596647     5.59   0.000     .5406155    1.243455
                    dummy2_83 |   .8257746   .1612985     5.12   0.000     .4707589     1.18079
                    dummy2_84 |     .80847   .1596875     5.06   0.000     .4570002     1.15994
                    dummy2_85 |   .8517869   .1609058     5.29   0.000     .4976356    1.205938
                    dummy2_86 |   .9043441   .1608068     5.62   0.000     .5504107    1.258277
                    dummy2_87 |    .814073   .1598478     5.09   0.000     .4622503    1.165896
                    dummy2_88 |   .8049474    .161538     4.98   0.000     .4494046     1.16049
                    dummy2_89 |   .8597018   .1642531     5.23   0.000     .4981831     1.22122
                    dummy2_90 |          0  (omitted)
                    dummy2_91 |   .7567579    .157341     4.81   0.001     .4104526    1.103063
                    dummy2_92 |    .797494   .1437274     5.55   0.000      .481152    1.113836
                    dummy2_93 |   .8547939   .1538736     5.56   0.000     .5161205    1.193467
                    dummy2_94 |   .8236994   .1531676     5.38   0.000     .4865798    1.160819
                    dummy2_95 |   .9632259   .1549291     6.22   0.000     .6222292    1.304223
                    dummy2_96 |   .8008468   .1458743     5.49   0.000     .4797797    1.121914
                    dummy2_97 |   .7957892    .146639     5.43   0.000     .4730388     1.11854
                    dummy2_98 |   .7838405   .1577287     4.97   0.000     .4366819    1.130999
                    dummy2_99 |   .7611177   .1478789     5.15   0.000     .4356385    1.086597
                   dummy2_100 |   .8738038   .1384165     6.31   0.000      .569151    1.178457
                   dummy2_101 |   .8177429   .1353569     6.04   0.000     .5198243    1.115661
                   dummy2_102 |    .785586   .1471102     5.34   0.000     .4617987    1.109373
                   dummy2_103 |   .8127554   .1464506     5.55   0.000     .4904197    1.135091
                   dummy2_104 |   .7987369    .155763     5.13   0.000     .4559049    1.141569
                   dummy2_105 |    .825436   .1641665     5.03   0.000     .4641079    1.186764
                   dummy2_106 |     .79008   .1622509     4.87   0.000     .4329681    1.147192
                   dummy2_107 |          0  (omitted)
                   dummy2_108 |          0  (omitted)
                   dummy2_109 |   .8851492   .1650374     5.36   0.000     .5219042    1.248394
                   dummy2_110 |          0  (omitted)
                   dummy2_111 |   .8144308   .1619615     5.03   0.000     .4579559    1.170906
                   dummy2_112 |   .7153924   .1368735     5.23   0.000     .4141359    1.016649
                   dummy2_113 |   .7816078   .1593286     4.91   0.000     .4309279    1.132288
                   dummy2_114 |   .7943496   .1618523     4.91   0.000     .4381152    1.150584
                   dummy2_115 |   .8188245   .1612843     5.08   0.000     .4638401    1.173809
                   dummy2_116 |    .812672   .1621952     5.01   0.000     .4556828    1.169661
                   dummy2_117 |   .7336594    .153834     4.77   0.001     .3950731    1.072246
                   dummy2_118 |   .7992407   .1551432     5.15   0.000     .4577728    1.140709
                   dummy2_119 |    .810636   .1626957     4.98   0.000     .4525453    1.168727
                   dummy2_120 |   .8269052   .1637698     5.05   0.000     .4664503     1.18736
                   dummy2_121 |   .8017199   .1613749     4.97   0.000     .4465362    1.156904
                   dummy2_122 |   .7980628   .1618216     4.93   0.000     .4418958     1.15423
                   dummy2_123 |   .7867107   .1557568     5.05   0.000     .4438924    1.129529
                   dummy2_124 |    .764209   .1514042     5.05   0.000     .4309705    1.097448
                   dummy2_125 |    .808263   .1624062     4.98   0.000     .4508094    1.165717
                   dummy2_126 |   .8702915   .1654954     5.26   0.000     .5060385    1.234544
                   dummy2_127 |   .8120984   .1662994     4.88   0.000     .4460759    1.178121
                   dummy2_128 |   .7993504   .1648434     4.85   0.001     .4365325    1.162168
                   dummy2_129 |   .8225588   .1661657     4.95   0.000     .4568306    1.188287
                   dummy2_130 |   .9225499   .1649105     5.59   0.000     .5595844    1.285515
                   dummy2_131 |    .845167   .1668473     5.07   0.000     .4779386    1.212395
                   dummy2_132 |   .8264049   .1662082     4.97   0.000     .4605831    1.192227
                   dummy2_133 |   .7802051   .1541487     5.06   0.000     .4409262    1.119484
                   dummy2_134 |   .5035777   .0962985     5.23   0.000     .2916261    .7155292
                   dummy2_135 |   .7225638   .1563659     4.62   0.001     .3784047    1.066723
                   dummy2_136 |   .7636149   .1505136     5.07   0.000     .4323367    1.094893
                   dummy2_137 |   .7794714   .1536442     5.07   0.000     .4413029     1.11764
                   dummy2_138 |   .7625391   .1576435     4.84   0.001      .415568     1.10951
                   dummy2_139 |          0  (omitted)
                   dummy2_140 |   .7889962   .1568109     5.03   0.000     .4438578    1.134135
                   dummy2_141 |   .8117333   .1582431     5.13   0.000     .4634426    1.160024
                   dummy2_142 |   .8269862   .1580806     5.23   0.000     .4790531    1.174919
                   dummy2_143 |   .7489077   .1574554     4.76   0.001     .4023507    1.095465
                   dummy2_144 |   .7695724   .1574881     4.89   0.000     .4229435    1.116201
                   dummy2_145 |   .7589994   .1549073     4.90   0.000     .4180507    1.099948
                   dummy2_146 |   .7761133   .1573665     4.93   0.000      .429752    1.122475
                   dummy2_147 |   .8101336   .1548835     5.23   0.000     .4692373     1.15103
                   dummy2_148 |   .8224043   .1587523     5.18   0.000     .4729929    1.171816
                   dummy2_149 |   .5957006   .1573802     3.79   0.003      .249309    .9420922
                   dummy2_150 |   .7237107   .1564258     4.63   0.001     .3794198    1.068002
                   dummy2_151 |   .6865824   .1576008     4.36   0.001     .3397053     1.03346
                   dummy2_152 |   .8513694   .1583738     5.38   0.000     .5027909    1.199948
                   dummy2_153 |    .673811   .1574234     4.28   0.001     .3273243    1.020298
                   dummy2_154 |   .5937159   .1556803     3.81   0.003      .251066    .9363658
                   dummy2_155 |   .8257965   .1535511     5.38   0.000     .4878328     1.16376
                   dummy2_156 |          0  (omitted)
                   dummy2_157 |   .8165654   .1527262     5.35   0.000     .4804174    1.152713
                   dummy2_158 |   .6970433    .129378     5.39   0.000     .4122843    .9818023
                   dummy2_159 |   .7566302   .1452085     5.21   0.000     .4370285    1.076232
                   dummy2_160 |   .8258419   .1549079     5.33   0.000     .4848918    1.166792
                   dummy2_161 |   .8205695   .1359262     6.04   0.000     .5213981    1.119741
                   dummy2_162 |   .8455076     .14723     5.74   0.000     .5214565    1.169559
                   dummy2_163 |    .787318   .1463939     5.38   0.000     .4651071    1.109529
                   dummy2_164 |   .8174602    .153208     5.34   0.000     .4802517    1.154669
                   dummy2_165 |   .8148383   .1509071     5.40   0.000     .4826939    1.146983
                   dummy2_166 |   .7669217   .1478079     5.19   0.000     .4415988    1.092245
                   dummy2_167 |   .5548188    .118984     4.66   0.001     .2929369    .8167008
                   dummy2_168 |    .734514   .1342019     5.47   0.000     .4391376     1.02989
                   dummy2_169 |   .8153887   .1538297     5.30   0.000     .4768118    1.153966
                   dummy2_170 |   .8822107   .1581125     5.58   0.000     .5342075    1.230214
                   dummy2_171 |   .8055178     .15967     5.04   0.000     .4540864    1.156949
                   dummy2_172 |   .7929566   .1585807     5.00   0.000     .4439228     1.14199
                   dummy2_173 |   .8211348   .1595974     5.15   0.000     .4698633    1.172406
                   dummy2_174 |   .8948199   .1594382     5.61   0.000     .5438988    1.245741
                   dummy2_175 |   .8583124   .1593518     5.39   0.000     .5075815    1.209043
                   dummy2_176 |   .8176989   .1586702     5.15   0.000     .4684682     1.16693
                   dummy2_177 |   .8722131   .1603102     5.44   0.000     .5193727    1.225053
                   dummy2_178 |   .5746995   .1074602     5.35   0.000     .3381811    .8112178
                   dummy2_179 |   .8292047   .1575989     5.26   0.000     .4823319    1.176077
                   dummy2_180 |   .8065322   .1548493     5.21   0.000     .4657112    1.147353
                   dummy2_181 |   .8160116   .1585727     5.15   0.000     .4669954    1.165028
                   dummy2_182 |   .8641979   .1603563     5.39   0.000     .5112561     1.21714
                   dummy2_183 |   .8487937   .1543439     5.50   0.000     .5090851    1.188502
                   dummy2_184 |   .8355156   .1514941     5.52   0.000     .5020793    1.168952
                   dummy2_185 |   .8539312   .1579812     5.41   0.000      .506217    1.201645
                   dummy2_186 |   .8508433   .1617177     5.26   0.000      .494905    1.206782
                   dummy2_187 |    .851347   .1591508     5.35   0.000     .5010585    1.201635
                   dummy2_188 |   .8105635   .1524485     5.32   0.000     .4750266      1.1461
                   dummy2_189 |   .7924443   .1453582     5.45   0.000     .4725131    1.112376
                   dummy2_190 |   .7959228   .1473096     5.40   0.000     .4716965    1.120149
                   dummy2_191 |   .7993504   .1584446     5.04   0.000     .4506162    1.148085
                   dummy2_192 |     .93578   .1632001     5.73   0.000     .5765789    1.294981
                   dummy2_193 |   .8645916   .1630313     5.30   0.000     .5057621    1.223421
                   dummy2_194 |   .8559061   .1635585     5.23   0.000     .4959163    1.215896
                   dummy2_195 |          0  (omitted)
                   dummy2_196 |          0  (omitted)
                   dummy2_197 |   .8723753   .1634531     5.34   0.000     .5126175    1.232133
                   dummy2_198 |   .8233868   .1624125     5.07   0.000     .4659193    1.180854
                   dummy2_199 |   .8247031   .1574801     5.24   0.000     .4780917    1.171315
                   dummy2_200 |    .569986   .1072319     5.32   0.000     .3339703    .8060017
                   dummy2_201 |   .7951947   .1546263     5.14   0.000     .4548644    1.135525
                   dummy2_202 |    .677937   .1309277     5.18   0.000     .3897671     .966107
                   dummy2_203 |   .8332687   .1584305     5.26   0.000     .4845656    1.181972
                   dummy2_204 |   .8226934   .1594856     5.16   0.000     .4716679    1.173719
                   dummy2_205 |   .7809053    .134451     5.81   0.000     .4849808     1.07683
                   dummy2_206 |   .8397926   .1533577     5.48   0.000     .5022546    1.177331
                   dummy2_207 |   .7827165   .1515952     5.16   0.000     .4490577    1.116375
                   dummy2_208 |   .8008456   .1547684     5.17   0.000     .4602027    1.141488
                   dummy2_209 |   .7876394   .1551869     5.08   0.000     .4460753    1.129203
                   dummy2_210 |   .8006751   .1536289     5.21   0.000     .4625402     1.13881
                   dummy2_211 |   .8695298   .1403992     6.19   0.000     .5605132    1.178546
                   dummy2_212 |   .8372754   .1520469     5.51   0.000     .5026224    1.171928
                   dummy2_213 |    .803709   .1512672     5.31   0.000     .4707721    1.136646
                   dummy2_214 |   .8131644   .1597382     5.09   0.000     .4615829    1.164746
                   dummy2_215 |    .790424   .1605166     4.92   0.000     .4371293    1.143719
                   dummy2_216 |   .8051546   .1597221     5.04   0.000     .4536086    1.156701
                   dummy2_217 |   .8186565   .1611156     5.08   0.000     .4640433     1.17327
                   dummy2_218 |   .8884682   .1585821     5.60   0.000     .5394313    1.237505
                   dummy2_219 |   .8301505   .1608997     5.16   0.000     .4760127    1.184288
                   dummy2_220 |   .7992194   .1603732     4.98   0.000     .4462404    1.152198
                   dummy2_221 |   .8163895   .1493006     5.47   0.000     .4877812    1.144998
                   dummy2_222 |   .8117372   .1504326     5.40   0.000     .4806372    1.142837
                   dummy2_223 |   .8065555   .1503864     5.36   0.000     .4755573    1.137554
                   dummy2_224 |   .8079202   .1413029     5.72   0.000     .4969145    1.118926
                   dummy2_225 |   .7945174   .1483199     5.36   0.000     .4680675    1.120967
                   dummy2_226 |   .8178717   .1523736     5.37   0.000     .4824996    1.153244
                   dummy2_227 |   .7544061   .1344106     5.61   0.000     .4585703    1.050242
                   dummy2_228 |   .8108494    .144866     5.60   0.000     .4920014    1.129697
                   dummy2_229 |   .8088254   .1502478     5.38   0.000     .4781324    1.139519
                   dummy2_230 |   .8438897   .1518682     5.56   0.000       .50963    1.178149
                   dummy2_231 |   .8249281   .1494908     5.52   0.000     .4959011    1.153955
                   dummy2_232 |   .8146948   .1469055     5.55   0.000     .4913579    1.138032
                   dummy2_233 |   .7962776   .1381395     5.76   0.000     .4922346    1.100321
                   dummy2_234 |   .7809587   .1410507     5.54   0.000     .4705082    1.091409
                   dummy2_235 |   .8061686   .1480739     5.44   0.000     .4802603    1.132077
                   dummy2_236 |   .8673336   .1540362     5.63   0.000     .5283022    1.206365
                   dummy2_237 |   .8225512     .15468     5.32   0.000     .4821029       1.163
                   dummy2_238 |   .8189254   .1545079     5.30   0.000     .4788559    1.158995
                   dummy2_239 |   .8404929   .1548368     5.43   0.000     .4996994    1.181286
                   dummy2_240 |   .8996107   .1532879     5.87   0.000     .5622263    1.236995
                   dummy2_241 |   .8560969    .153837     5.56   0.000     .5175041     1.19469
                   dummy2_242 |   .8201942   .1537665     5.33   0.000     .4817565    1.158632
                   dummy2_243 |   .8242387   .1567519     5.26   0.000       .47923    1.169247
                   dummy2_244 |   .7539036   .1437376     5.25   0.000     .4375394    1.070268
                   dummy2_245 |   .8263968     .15595     5.30   0.000     .4831531    1.169641
                   dummy2_246 |   .8368965   .1473376     5.68   0.000     .5126086    1.161184
                   dummy2_247 |     .81194   .1549043     5.24   0.000     .4709979    1.152882
                   dummy2_248 |   .8422587   .1565943     5.38   0.000     .4975968    1.186921
                   dummy2_249 |   .9337899   .1536504     6.08   0.000     .5956076    1.271972
                   dummy2_250 |   .8268143   .1545368     5.35   0.000     .4866811    1.166948
                   dummy2_251 |    .844706   .1555525     5.43   0.000     .5023372    1.187075
                   dummy2_252 |   .8400198   .1557526     5.39   0.000     .4972106    1.182829
                   dummy2_253 |   .8390001   .1550834     5.41   0.000     .4976638    1.180336
                   dummy2_254 |   .8462178   .1543222     5.48   0.000     .5065568    1.185879
                   dummy2_255 |   .9318105   .1511235     6.17   0.000     .5991899    1.264431
                   dummy2_256 |   .8416159    .151028     5.57   0.000     .5092056    1.174026
                   dummy2_257 |    .834468   .1514676     5.51   0.000       .50109    1.167846
                   dummy2_258 |   .8533179   .1564861     5.45   0.000     .5088942    1.197742
                   dummy2_259 |   .7884736     .15731     5.01   0.000     .4422366    1.134711
                   dummy2_260 |   .8114957   .1561555     5.20   0.000     .4677997    1.155192
                   dummy2_261 |   .8240125   .1570807     5.25   0.000     .4782801    1.169745
                   dummy2_262 |   .8698988   .1571081     5.54   0.000     .5241061    1.215691
                   dummy2_263 |   .8362049   .1567388     5.34   0.000     .4912252    1.181185
                   dummy2_264 |     .80785   .1564778     5.16   0.000     .4634447    1.152255
                        _cons |  -.8370208   .1413187    -5.92   0.000    -1.148061   -.5259804
-----------------------------------------------------------------------------------------------

. eststo table2_6

. 
. esttab table2_1 table2_2 table2_3 table2_4 table2_5 table2_6 using "BCDVS_95_4_2013tables.csv", append label  nodepvar sta
> r(* 0.10 ** 0.05 *** 0.01) se r2 drop(y_* dummy*) compress csv
(output written to BCDVS_95_4_2013tables.csv)

. 
. ******************************************************************************
. ***************     OLS regressions with sub-indexes (table 3)    ************
. ******************************************************************************
. 
. reg tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.pmr l.inst y_* dummy* if tfpcorrectedo
> verklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3 & l.compindex!=., cl(country)

Linear regression                                      Number of obs =    1847
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2681
                                                       Root MSE      =  .06349

                                     (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------------
                   |               Robust
tfpcorrectedover~s |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0656356   .0232591     2.82   0.017     .0144427    .1168286
                   |
     tecnogapklems |
               L1. |    .007475   .0041633     1.80   0.100    -.0016883    .0166383
                   |
         ind_trend |   .0426765   .0050845     8.39   0.000     .0314856    .0538674
                   |
          tradelib |
               L1. |   .0142178   .0039743     3.58   0.004     .0054704    .0229653
                   |
               pmr |
               L1. |  -.0304467   .0195554    -1.56   0.148    -.0734878    .0125944
                   |
              inst |
               L1. |   .0705302   .0226717     3.11   0.010     .0206302    .1204302
                   |
               y_1 |          0  (omitted)
               y_2 |          0  (omitted)
               y_3 |   .0047398   .0119458     0.40   0.699    -.0215528    .0310324
               y_4 |  -.0195779   .0131107    -1.49   0.163    -.0484343    .0092785
               y_5 |   .0049044   .0110291     0.44   0.665    -.0193704    .0291793
               y_6 |   .0066756   .0126447     0.53   0.608    -.0211551    .0345064
               y_7 |  -.0232099   .0116018    -2.00   0.071    -.0487454    .0023256
               y_8 |  -.0180706   .0164027    -1.10   0.294    -.0541727    .0180315
               y_9 |  -.0136505   .0132557    -1.03   0.325    -.0428261     .015525
              y_10 |  -.0042096   .0146918    -0.29   0.780    -.0365461    .0281269
              y_11 |  -.0141921   .0152097    -0.93   0.371    -.0476685    .0192843
          dummy2_1 |   .1228194   .0241182     5.09   0.000     .0697356    .1759031
          dummy2_2 |    .065074   .0237921     2.74   0.019     .0127079      .11744
          dummy2_3 |   .1363057    .021721     6.28   0.000     .0884981    .1841133
          dummy2_4 |   .1085175   .0229022     4.74   0.001     .0581102    .1589248
          dummy2_5 |   .1301359   .0224829     5.79   0.000     .0806514    .1796204
          dummy2_6 |      .1858   .0223537     8.31   0.000     .1365999    .2350002
          dummy2_7 |   .1111561   .0209918     5.30   0.000     .0649535    .1573587
          dummy2_8 |   .1311115   .0229667     5.71   0.000     .0805621     .181661
          dummy2_9 |   .1074846   .0220603     4.87   0.000     .0589302     .156039
         dummy2_10 |   .1289946    .022632     5.70   0.000     .0791818    .1788073
         dummy2_11 |   .1449922    .021972     6.60   0.000     .0966323    .1933522
         dummy2_12 |   .1105887   .0228894     4.83   0.001     .0602094     .160968
         dummy2_13 |   .0976961   .0322416     3.03   0.011     .0267328    .1686594
         dummy2_14 |   .1000208   .0252594     3.96   0.002     .0444253    .1556163
         dummy2_15 |   .1331397   .0223082     5.97   0.000     .0840396    .1822398
         dummy2_16 |   .1156391   .0233715     4.95   0.000     .0641988    .1670794
         dummy2_17 |   .1399021    .022568     6.20   0.000     .0902304    .1895739
         dummy2_18 |   .1368831    .022498     6.08   0.000     .0873653    .1864008
         dummy2_19 |   .1542927    .022601     6.83   0.000     .1045483    .2040371
         dummy2_20 |   .1260558   .0238753     5.28   0.000     .0735065    .1786051
         dummy2_21 |   .0967946   .0234145     4.13   0.002     .0452597    .1483295
         dummy2_22 |   .1264154   .0222686     5.68   0.000     .0774025    .1754283
         dummy2_23 |   .2141734   .0179695    11.92   0.000     .1746228     .253724
         dummy2_24 |   .1358811   .0141273     9.62   0.000      .104787    .1669751
         dummy2_25 |   .1373434   .0171839     7.99   0.000      .099522    .1751648
         dummy2_26 |   .1731626   .0146384    11.83   0.000     .1409437    .2053815
         dummy2_27 |   .1977149   .0173065    11.42   0.000     .1596236    .2358062
         dummy2_28 |   .1494016   .0152669     9.79   0.000     .1157995    .1830038
         dummy2_29 |   .1670056   .0151304    11.04   0.000     .1337038    .2003073
         dummy2_30 |   .1166179   .0138717     8.41   0.000     .0860864    .1471494
         dummy2_31 |   .1752027   .0141044    12.42   0.000     .1441591    .2062463
         dummy2_32 |   .2055999   .0172024    11.95   0.000     .1677377     .243462
         dummy2_33 |   .1409249    .015384     9.16   0.000      .107065    .1747849
         dummy2_34 |   .1912827   .0152249    12.56   0.000     .1577728    .2247926
         dummy2_35 |   .1398298   .0155219     9.01   0.000     .1056664    .1739932
         dummy2_36 |   .1154217   .0148343     7.78   0.000     .0827717    .1480717
         dummy2_37 |   .1525559   .0160291     9.52   0.000     .1172761    .1878357
         dummy2_38 |   .1669384   .0174772     9.55   0.000     .1284714    .2054053
         dummy2_39 |   .1440624   .0185743     7.76   0.000     .1031806    .1849442
         dummy2_40 |   .0975655   .0185824     5.25   0.000     .0566659    .1384652
         dummy2_41 |    .138035   .0195881     7.05   0.000     .0949219    .1811481
         dummy2_42 |   .1231867   .0195287     6.31   0.000     .0802043    .1661691
         dummy2_43 |    .145898   .0172235     8.47   0.000     .1079894    .1838067
         dummy2_44 |   .1612125   .0187442     8.60   0.000     .1199567    .2024683
         dummy2_45 |   .1971949    .016974    11.62   0.000     .1598354    .2345544
         dummy2_46 |          0  (omitted)
         dummy2_47 |   .1465269   .0139761    10.48   0.000     .1157656    .1772882
         dummy2_48 |   .1832582   .0139933    13.10   0.000     .1524593    .2140572
         dummy2_49 |          0  (omitted)
         dummy2_50 |   .1722831   .0162958    10.57   0.000     .1364161      .20815
         dummy2_51 |  -.0978871   .0137687    -7.11   0.000    -.1281918   -.0675824
         dummy2_52 |   .1433647   .0135744    10.56   0.000     .1134877    .1732416
         dummy2_53 |   .2107792   .0146697    14.37   0.000     .1784915     .243067
         dummy2_54 |   .1639866   .0150893    10.87   0.000     .1307753    .1971978
         dummy2_55 |   .1701736   .0150262    11.33   0.000     .1371011    .2032461
         dummy2_56 |   .2046528   .0132755    15.42   0.000     .1754337    .2338719
         dummy2_57 |   .1790541   .0149564    11.97   0.000     .1461352     .211973
         dummy2_58 |   .1264252   .0140074     9.03   0.000     .0955952    .1572553
         dummy2_59 |   .1870974   .0146558    12.77   0.000     .1548401    .2193546
         dummy2_60 |   .2719062     .01656    16.42   0.000      .235458    .3083545
         dummy2_61 |   .1695474   .0170286     9.96   0.000     .1320678    .2070271
         dummy2_62 |   .1784227   .0158199    11.28   0.000     .1436034    .2132421
         dummy2_63 |   .1605951   .0165353     9.71   0.000     .1242011     .196989
         dummy2_64 |   .2890701   .0178549    16.19   0.000     .2497718    .3283685
         dummy2_65 |   .1420352   .0152255     9.33   0.000     .1085241    .1755464
         dummy2_66 |   .1681185   .0180871     9.29   0.000     .1283091    .2079279
         dummy2_67 |   .1662273   .0177245     9.38   0.000     .1272158    .2052387
         dummy2_68 |   .0454893   .0214162     2.12   0.057    -.0016474    .0926259
         dummy2_69 |   .1314241   .0166221     7.91   0.000      .094839    .1680091
         dummy2_70 |   .1171431   .0167252     7.00   0.000     .0803311     .153955
         dummy2_71 |   .1606486   .0174238     9.22   0.000      .122299    .1989982
         dummy2_72 |   .1359744   .0172711     7.87   0.000     .0979611    .1739878
         dummy2_73 |   .0680796   .0184691     3.69   0.004     .0274293    .1087299
         dummy2_74 |   .1599032    .016586     9.64   0.000     .1233977    .1964087
         dummy2_75 |    .150303   .0170626     8.81   0.000     .1127484    .1878576
         dummy2_76 |   .1526324   .0177761     8.59   0.000     .1135075    .1917574
         dummy2_77 |   .1418787   .0169701     8.36   0.000     .1045277    .1792297
         dummy2_78 |   .1433766   .0172519     8.31   0.000     .1054054    .1813477
         dummy2_79 |   .1598039   .0177433     9.01   0.000     .1207512    .1988566
         dummy2_80 |   .1535485   .0171297     8.96   0.000     .1158463    .1912506
         dummy2_81 |   .1252107    .017045     7.35   0.000     .0876948    .1627265
         dummy2_82 |   .1727211   .0180708     9.56   0.000     .1329475    .2124946
         dummy2_83 |   .1419327   .0182221     7.79   0.000     .1018262    .1820392
         dummy2_84 |   .1397031   .0175426     7.96   0.000     .1010922    .1783141
         dummy2_85 |   .1604183   .0179808     8.92   0.000     .1208429    .1999936
         dummy2_86 |   .1977233   .0180118    10.98   0.000     .1580796     .237367
         dummy2_87 |   .1150503   .0181977     6.32   0.000     .0749975    .1551031
         dummy2_88 |   .0743874   .0178812     4.16   0.002     .0350312    .1137437
         dummy2_89 |   .2273041   .0181241    12.54   0.000     .1874133    .2671949
         dummy2_90 |   .0912815   .0391154     2.33   0.040      .005189    .1773739
         dummy2_91 |   .1100958   .0139347     7.90   0.000     .0794257    .1407659
         dummy2_92 |    .197339   .0124238    15.88   0.000     .1699944    .2246836
         dummy2_93 |   .1880124    .013065    14.39   0.000     .1592566    .2167682
         dummy2_94 |   .1920967   .0126942    15.13   0.000      .164157    .2200364
         dummy2_95 |   .3745708   .0130289    28.75   0.000     .3458944    .4032472
         dummy2_96 |    .144993   .0129037    11.24   0.000     .1165922    .1733938
         dummy2_97 |   .2187705   .0123724    17.68   0.000      .191539    .2460019
         dummy2_98 |   .1114184    .014218     7.84   0.000     .0801248     .142712
         dummy2_99 |   .0537874   .0124181     4.33   0.001     .0264552    .0811195
        dummy2_100 |   .2307231   .0154486    14.93   0.000     .1967208    .2647253
        dummy2_101 |   .1160714   .0168846     6.87   0.000     .0789087     .153234
        dummy2_102 |  -.0574281   .0131667    -4.36   0.001    -.0864079   -.0284484
        dummy2_103 |   .2571847   .0125789    20.45   0.000     .2294987    .2848706
        dummy2_104 |   .1622359   .0162559     9.98   0.000     .1264569    .1980148
        dummy2_105 |   .1881342   .0181027    10.39   0.000     .1482905    .2279778
        dummy2_106 |   .1465395   .0172992     8.47   0.000     .1084641    .1846148
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .2161043   .0165628    13.05   0.000     .1796498    .2525587
        dummy2_110 |          0  (omitted)
        dummy2_111 |   .1721641   .0171385    10.05   0.000     .1344424    .2098857
        dummy2_112 |   .1159817   .0131237     8.84   0.000     .0870967    .1448668
        dummy2_113 |   .1398596   .0157072     8.90   0.000     .1052882    .1744309
        dummy2_114 |   .1386464    .016486     8.41   0.000      .102361    .1749319
        dummy2_115 |   .1763823   .0165811    10.64   0.000     .1398875    .2128771
        dummy2_116 |   .1492833   .0166476     8.97   0.000     .1126421    .1859245
        dummy2_117 |   .0889463   .0157297     5.65   0.000     .0543255    .1235672
        dummy2_118 |   .1446787   .0141105    10.25   0.000     .1136217    .1757358
        dummy2_119 |   .1576754   .0166212     9.49   0.000     .1210924    .1942584
        dummy2_120 |   .1643889   .0173052     9.50   0.000     .1263005    .2024773
        dummy2_121 |   .1553203    .016186     9.60   0.000     .1196952    .1909454
        dummy2_122 |   .1456626   .0162729     8.95   0.000     .1098462    .1814789
        dummy2_123 |   .1280653   .0154571     8.29   0.000     .0940445    .1620862
        dummy2_124 |   .1187816   .0138629     8.57   0.000     .0882697    .1492936
        dummy2_125 |     .16202   .0171575     9.44   0.000     .1242566    .1997835
        dummy2_126 |   .1678554   .0173699     9.66   0.000     .1296244    .2060863
        dummy2_127 |   .1500243   .0179696     8.35   0.000     .1104735    .1895752
        dummy2_128 |   .1481926   .0175202     8.46   0.000     .1096308    .1867543
        dummy2_129 |   .1641586   .0182617     8.99   0.000     .1239649    .2043523
        dummy2_130 |   .2333619    .018236    12.80   0.000     .1932248    .2734991
        dummy2_131 |   .1763594    .017124    10.30   0.000     .1386699     .214049
        dummy2_132 |   .1711118    .017935     9.54   0.000     .1316371    .2105865
        dummy2_133 |   .1118529   .0163706     6.83   0.000     .0758215    .1478842
        dummy2_134 |    .009973   .0460256     0.22   0.832    -.0913287    .1112746
        dummy2_135 |   .0498515   .0114541     4.35   0.001      .024641    .0750619
        dummy2_136 |    .088107   .0169786     5.19   0.000     .0507373    .1254768
        dummy2_137 |   .1186057    .017916     6.62   0.000     .0791729    .1580386
        dummy2_138 |    .100916   .0151655     6.65   0.000      .067537     .134295
        dummy2_139 |          0  (omitted)
        dummy2_140 |   .0862318   .0152981     5.64   0.000     .0525609    .1199026
        dummy2_141 |   .1455333   .0173143     8.41   0.000     .1074249    .1836418
        dummy2_142 |   .1330912   .0181029     7.35   0.000      .093247    .1729355
        dummy2_143 |   .0966089   .0128038     7.55   0.000     .0684279    .1247898
        dummy2_144 |   .1028387   .0137914     7.46   0.000      .072484    .1331934
        dummy2_145 |   .0932604   .0105236     8.86   0.000     .0700981    .1164227
        dummy2_146 |   .1109573   .0141584     7.84   0.000      .079795    .1421197
        dummy2_147 |   .1363432   .0177909     7.66   0.000     .0971858    .1755006
        dummy2_148 |   .1119197   .0141675     7.90   0.000     .0807372    .1431022
        dummy2_149 |  -.0069956   .0021456    -3.26   0.008     -.011718   -.0022732
        dummy2_150 |   .0833048   .0117213     7.11   0.000     .0575064    .1091032
        dummy2_151 |   .0621723   .0084193     7.38   0.000     .0436416     .080703
        dummy2_152 |   .1187865   .0139828     8.50   0.000     .0880105    .1495625
        dummy2_153 |  -.0068561   .0074241    -0.92   0.376    -.0231964    .0094842
        dummy2_154 |          0  (omitted)
        dummy2_155 |   .1251185    .019628     6.37   0.000     .0819176    .1683193
        dummy2_156 |   .1553526   .0216238     7.18   0.000     .1077589    .2029462
        dummy2_157 |   .1518359   .0180573     8.41   0.000     .1120921    .1915798
        dummy2_158 |   .0746086   .0257468     2.90   0.015     .0179403    .1312768
        dummy2_159 |   .1078986   .0181619     5.94   0.000     .0679245    .1478727
        dummy2_160 |   .1514978   .0188445     8.04   0.000     .1100214    .1929742
        dummy2_161 |   .2509676   .0176427    14.23   0.000     .2121364    .2897989
        dummy2_162 |   .1606999   .0184701     8.70   0.000     .1200475    .2013524
        dummy2_163 |   .1234576   .0177726     6.95   0.000     .0843403    .1625749
        dummy2_164 |   .1504319   .0190487     7.90   0.000      .108506    .1923578
        dummy2_165 |   .1443473   .0183823     7.85   0.000     .1038881    .1848065
        dummy2_166 |   .1467728   .0181372     8.09   0.000     .1068531    .1866925
        dummy2_167 |   .0066142   .0415891     0.16   0.877    -.0849227    .0981512
        dummy2_168 |   .1101359   .0216688     5.08   0.000     .0624432    .1578287
        dummy2_169 |   .1445995    .019145     7.55   0.000     .1024615    .1867374
        dummy2_170 |   .1874481   .0203337     9.22   0.000      .142694    .2322022
        dummy2_171 |   .1394252   .0197393     7.06   0.000     .0959792    .1828712
        dummy2_172 |   .1372874   .0193174     7.11   0.000       .09477    .1798048
        dummy2_173 |    .154515   .0198307     7.79   0.000      .110868     .198162
        dummy2_174 |   .2267865   .0209735    10.81   0.000     .1806243    .2729488
        dummy2_175 |   .1537036   .0195451     7.86   0.000     .1106852    .1967221
        dummy2_176 |   .1387284   .0194786     7.12   0.000     .0958563    .1816005
        dummy2_177 |   .1551742   .0170958     9.08   0.000     .1175466    .1928018
        dummy2_178 |   .0332587   .0331909     1.00   0.338     -.039794    .1063113
        dummy2_179 |   .1787383   .0139996    12.77   0.000     .1479253    .2095513
        dummy2_180 |    .158584   .0138271    11.47   0.000     .1281508    .1890172
        dummy2_181 |    .125404   .0149227     8.40   0.000     .0925595    .1582486
        dummy2_182 |   .1760791   .0151031    11.66   0.000     .1428375    .2093207
        dummy2_183 |   .1245654   .0123592    10.08   0.000     .0973629    .1517679
        dummy2_184 |   .1324478   .0140505     9.43   0.000     .1015229    .1633728
        dummy2_185 |   .1626442   .0144571    11.25   0.000     .1308245     .194464
        dummy2_186 |   .1626937   .0155386    10.47   0.000     .1284936    .1968939
        dummy2_187 |   .1701488    .014907    11.41   0.000     .1373386    .2029589
        dummy2_188 |   .1368058   .0132198    10.35   0.000     .1077093    .1659023
        dummy2_189 |   .1347073   .0146729     9.18   0.000     .1024124    .1670021
        dummy2_190 |   .1060555   .0137898     7.69   0.000     .0757043    .1364067
        dummy2_191 |   .1439964   .0153892     9.36   0.000     .1101249    .1778678
        dummy2_192 |   .1902767   .0172752    11.01   0.000     .1522542    .2282991
        dummy2_193 |   .1453233   .0164459     8.84   0.000     .1091262    .1815204
        dummy2_194 |    .133907   .0159683     8.39   0.000     .0987611    .1690529
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |   .2121168   .0155485    13.64   0.000     .1778949    .2463388
        dummy2_198 |   .1512954   .0160567     9.42   0.000     .1159548     .186636
        dummy2_199 |   .1426363   .0192713     7.40   0.000     .1002206     .185052
        dummy2_200 |   .0348439   .0257478     1.35   0.203    -.0218266    .0915143
        dummy2_201 |   .1071199   .0175013     6.12   0.000     .0685997      .14564
        dummy2_202 |   .0450221    .024259     1.86   0.090    -.0083717    .0984159
        dummy2_203 |   .1634053   .0186899     8.74   0.000     .1222692    .2045414
        dummy2_204 |   .1312854    .018751     7.00   0.000     .0900147    .1725561
        dummy2_205 |   .0856362   .0156608     5.47   0.000     .0511671    .1201054
        dummy2_206 |   .1051885   .0170126     6.18   0.000      .067744     .142633
        dummy2_207 |   .1172625    .017135     6.84   0.000     .0795486    .1549763
        dummy2_208 |   .1370096   .0182542     7.51   0.000     .0968324    .1771868
        dummy2_209 |   .1024952   .0176383     5.81   0.000     .0636737    .1413168
        dummy2_210 |    .129667   .0174788     7.42   0.000     .0911964    .1681376
        dummy2_211 |   .2149575   .0189513    11.34   0.000     .1732459    .2566691
        dummy2_212 |   .1369025    .017992     7.61   0.000     .0973024    .1765027
        dummy2_213 |   .1652676   .0180271     9.17   0.000     .1255901    .2049451
        dummy2_214 |   .1162577   .0190445     6.10   0.000      .074341    .1581744
        dummy2_215 |   .1241507   .0191205     6.49   0.000     .0820668    .1662346
        dummy2_216 |   .1414267   .0185759     7.61   0.000     .1005414     .182312
        dummy2_217 |   .1265064    .018987     6.66   0.000     .0847164    .1682964
        dummy2_218 |   .1641002   .0189122     8.68   0.000     .1224747    .2057256
        dummy2_219 |    .115799   .0185316     6.25   0.000     .0750112    .1565868
        dummy2_220 |   .1168848   .0187842     6.22   0.000     .0755409    .1582286
        dummy2_221 |   .1351412   .0273738     4.94   0.000     .0748918    .1953905
        dummy2_222 |   .0986275   .0269091     3.67   0.004      .039401     .157854
        dummy2_223 |   .1175614    .025702     4.57   0.001     .0609916    .1741311
        dummy2_224 |   .1189155   .0265387     4.48   0.001     .0605043    .1773268
        dummy2_225 |   .1097955   .0258184     4.25   0.001     .0529696    .1666213
        dummy2_226 |   .1261628   .0260761     4.84   0.001     .0687697     .183556
        dummy2_227 |   .0989927   .0258608     3.83   0.003     .0420736    .1559119
        dummy2_228 |    .117662   .0268201     4.39   0.001     .0586313    .1766926
        dummy2_229 |    .120499   .0259609     4.64   0.001     .0633594    .1776386
        dummy2_230 |   .1497424   .0266171     5.63   0.000     .0911585    .2083263
        dummy2_231 |   .1413294   .0258012     5.48   0.000     .0845414    .1981174
        dummy2_232 |   .1322069   .0258296     5.12   0.000     .0753563    .1890575
        dummy2_233 |   .1097627   .0283623     3.87   0.003     .0473377    .1721878
        dummy2_234 |   .1119235    .026868     4.17   0.002     .0527873    .1710596
        dummy2_235 |   .1122973   .0262367     4.28   0.001     .0545507    .1700439
        dummy2_236 |   .1372522   .0268996     5.10   0.000     .0780466    .1964579
        dummy2_237 |   .1368146   .0266092     5.14   0.000      .078248    .1953811
        dummy2_238 |   .1283404   .0261001     4.92   0.000     .0708945    .1857863
        dummy2_239 |   .1522023   .0262408     5.80   0.000     .0944467     .209958
        dummy2_240 |   .1832943   .0263864     6.95   0.000     .1252182    .2413704
        dummy2_241 |   .1340277   .0277439     4.83   0.001     .0729637    .1950916
        dummy2_242 |   .1289629   .0261076     4.94   0.000     .0715005    .1864252
        dummy2_243 |   .1399479   .0242999     5.76   0.000     .0864642    .1934316
        dummy2_244 |   .0676393    .024567     2.75   0.019     .0135678    .1217109
        dummy2_245 |   .1317521   .0229995     5.73   0.000     .0811305    .1823736
        dummy2_246 |   .1462077    .022921     6.38   0.000     .0957589    .1966564
        dummy2_247 |   .1215489   .0231377     5.25   0.000     .0706232    .1724746
        dummy2_248 |   .1462533   .0232577     6.29   0.000     .0950636    .1974431
        dummy2_249 |   .1925941   .0240915     7.99   0.000      .139569    .2456191
        dummy2_250 |   .1147158    .024294     4.72   0.001      .061245    .1681867
        dummy2_251 |   .1473975   .0230353     6.40   0.000     .0966972    .1980978
        dummy2_252 |   .1380814    .023549     5.86   0.000     .0862503    .1899125
        dummy2_253 |    .146068   .0228882     6.38   0.000     .0956913    .1964446
        dummy2_254 |    .143187   .0228884     6.26   0.000     .0928101    .1935639
        dummy2_255 |   .2342227   .0243913     9.60   0.000     .1805379    .2879075
        dummy2_256 |   .1607255   .0232977     6.90   0.000     .1094475    .2120034
        dummy2_257 |   .1464612   .0229639     6.38   0.000     .0959181    .1970043
        dummy2_258 |   .1210171   .0243977     4.96   0.000     .0673181    .1747161
        dummy2_259 |   .0978296   .0234729     4.17   0.002      .046166    .1494932
        dummy2_260 |   .1195503   .0231817     5.16   0.000     .0685278    .1705729
        dummy2_261 |    .132191   .0231642     5.71   0.000      .081207     .183175
        dummy2_262 |   .1353684   .0233264     5.80   0.000     .0840273    .1867095
        dummy2_263 |   .1094837   .0257579     4.25   0.001     .0527909    .1661766
        dummy2_264 |   .1066839   .0229595     4.65   0.001     .0561503    .1572175
             _cons |  -.1324562   .0552272    -2.40   0.035    -.2540106   -.0109019
------------------------------------------------------------------------------------

. eststo table3_1

. reg tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.pmr l.enf y_* dummy* if tfpcorrectedov
> erklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, cl(country)

Linear regression                                      Number of obs =    1847
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2669
                                                       Root MSE      =  .06354

                                     (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------------
                   |               Robust
tfpcorrectedover~s |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0659306   .0231982     2.84   0.016     .0148718    .1169895
                   |
     tecnogapklems |
               L1. |   .0075414   .0041938     1.80   0.100    -.0016892    .0167719
                   |
         ind_trend |    .043711   .0053307     8.20   0.000     .0319782    .0554439
                   |
          tradelib |
               L1. |   .0143947   .0039582     3.64   0.004     .0056827    .0231066
                   |
               pmr |
               L1. |  -.0266125   .0249929    -1.06   0.310    -.0816215    .0283965
                   |
               enf |
               L1. |   .0399893     .01948     2.05   0.065    -.0028858    .0828645
                   |
               y_1 |          0  (omitted)
               y_2 |          0  (omitted)
               y_3 |   .0059913   .0109583     0.55   0.595    -.0181279    .0301105
               y_4 |  -.0178778   .0117493    -1.52   0.156    -.0437379    .0079824
               y_5 |   .0090253   .0110547     0.82   0.432     -.015306    .0333566
               y_6 |   .0120132   .0116805     1.03   0.326    -.0136954    .0377219
               y_7 |  -.0153849   .0113683    -1.35   0.203    -.0404063    .0096365
               y_8 |  -.0110143    .014748    -0.75   0.471    -.0434745    .0214458
               y_9 |   -.007811   .0122047    -0.64   0.535    -.0346734    .0190514
              y_10 |   .0022642   .0150395     0.15   0.883    -.0308374    .0353659
              y_11 |  -.0067014   .0156256    -0.43   0.676    -.0410931    .0276904
          dummy2_1 |   .1224172   .0276262     4.43   0.001     .0616124     .183222
          dummy2_2 |    .064657   .0273105     2.37   0.037      .004547    .1247671
          dummy2_3 |   .1359155   .0253199     5.37   0.000     .0801867    .1916443
          dummy2_4 |   .1078652   .0265594     4.06   0.002     .0494082    .1663221
          dummy2_5 |   .1298028   .0260046     4.99   0.000     .0725672    .1870385
          dummy2_6 |    .185409   .0259266     7.15   0.000     .1283449     .242473
          dummy2_7 |   .1106379   .0245467     4.51   0.001      .056611    .1646648
          dummy2_8 |   .1303675   .0265831     4.90   0.000     .0718586    .1888764
          dummy2_9 |   .1069599    .025721     4.16   0.002     .0503483    .1635715
         dummy2_10 |   .1285075   .0262517     4.90   0.000      .070728     .186287
         dummy2_11 |   .1444995   .0256227     5.64   0.000     .0881043    .2008947
         dummy2_12 |   .1097549   .0265296     4.14   0.002     .0513637    .1681462
         dummy2_13 |   .0962177   .0357168     2.69   0.021     .0176057    .1748298
         dummy2_14 |   .0989508   .0291711     3.39   0.006     .0347457    .1631559
         dummy2_15 |   .1326376   .0259486     5.11   0.000      .075525    .1897501
         dummy2_16 |    .115306   .0268609     4.29   0.001     .0561855    .1744265
         dummy2_17 |    .139588   .0260725     5.35   0.000     .0822027    .1969733
         dummy2_18 |    .136544   .0260175     5.25   0.000     .0792798    .1938082
         dummy2_19 |   .1539849   .0260983     5.90   0.000     .0965429     .211427
         dummy2_20 |    .125721    .027345     4.60   0.001     .0655352    .1859068
         dummy2_21 |   .0964019    .026895     3.58   0.004     .0372063    .1555975
         dummy2_22 |   .1260872   .0257907     4.89   0.000     .0693224    .1828521
         dummy2_23 |   .2154832   .0200643    10.74   0.000     .1713219    .2596444
         dummy2_24 |   .1367944   .0162621     8.41   0.000     .1010018     .172587
         dummy2_25 |   .1386345   .0195619     7.09   0.000      .095579    .1816899
         dummy2_26 |   .1741572   .0167651    10.39   0.000     .1372575    .2110569
         dummy2_27 |   .1990125   .0195415    10.18   0.000      .156002     .242023
         dummy2_28 |   .1502681   .0175295     8.57   0.000      .111686    .1888502
         dummy2_29 |   .1689407   .0165349    10.22   0.000     .1325476    .2053339
         dummy2_30 |   .1174277    .016106     7.29   0.000     .0819786    .1528769
         dummy2_31 |   .1773316   .0162751    10.90   0.000     .1415103    .2131528
         dummy2_32 |   .2068775    .019389    10.67   0.000     .1642027    .2495524
         dummy2_33 |   .1420578   .0177767     7.99   0.000     .1029316     .181184
         dummy2_34 |   .1923981   .0175319    10.97   0.000     .1538107    .2309856
         dummy2_35 |   .1416346   .0169136     8.37   0.000     .1044079    .1788612
         dummy2_36 |   .1173788   .0173783     6.75   0.000     .0791294    .1556283
         dummy2_37 |   .1537329   .0182387     8.43   0.000     .1135898    .1938761
         dummy2_38 |   .1679772    .019324     8.69   0.000     .1254453    .2105092
         dummy2_39 |   .1454434   .0207697     7.00   0.000     .0997297    .1911572
         dummy2_40 |   .0989699   .0208888     4.74   0.001     .0529939    .1449458
         dummy2_41 |   .1394659    .021889     6.37   0.000     .0912886    .1876433
         dummy2_42 |   .1243057   .0213441     5.82   0.000     .0773276    .1712838
         dummy2_43 |   .1470059   .0191373     7.68   0.000     .1048849    .1891269
         dummy2_44 |   .1626139    .021047     7.73   0.000     .1162897    .2089382
         dummy2_45 |   .1947883   .0175052    11.13   0.000     .1562595     .233317
         dummy2_46 |          0  (omitted)
         dummy2_47 |   .1440431   .0147963     9.74   0.000     .1114767    .1766095
         dummy2_48 |   .1821756   .0148867    12.24   0.000     .1494102    .2149409
         dummy2_49 |          0  (omitted)
         dummy2_50 |   .1715211    .017389     9.86   0.000      .133248    .2097941
         dummy2_51 |  -.0992697   .0135498    -7.33   0.000    -.1290926   -.0694468
         dummy2_52 |   .1406358   .0139771    10.06   0.000     .1098724    .1713992
         dummy2_53 |   .2083149   .0155545    13.39   0.000     .1740796    .2425502
         dummy2_54 |   .1615459   .0158824    10.17   0.000     .1265891    .1965028
         dummy2_55 |   .1677236   .0158799    10.56   0.000     .1327722    .2026749
         dummy2_56 |   .2020603   .0141318    14.30   0.000     .1709565    .2331641
         dummy2_57 |   .1780388    .015822    11.25   0.000     .1432147    .2128629
         dummy2_58 |   .1253861    .014921     8.40   0.000     .0925452     .158227
         dummy2_59 |    .184553   .0153511    12.02   0.000     .1507654    .2183405
         dummy2_60 |   .2695303   .0171545    15.71   0.000     .2317734    .3072871
         dummy2_61 |   .1672368   .0178552     9.37   0.000     .1279377    .2065358
         dummy2_62 |   .1761198   .0168401    10.46   0.000     .1390551    .2131846
         dummy2_63 |   .1582966   .0174773     9.06   0.000     .1198293    .1967639
         dummy2_64 |   .2867351     .01849    15.51   0.000     .2460389    .3274313
         dummy2_65 |   .1396718   .0160518     8.70   0.000      .104342    .1750016
         dummy2_66 |    .167506   .0192795     8.69   0.000     .1250721    .2099399
         dummy2_67 |   .1813732   .0191459     9.47   0.000     .1392334     .223513
         dummy2_68 |   .0597697    .021894     2.73   0.020     .0115813    .1079581
         dummy2_69 |   .1465813    .018051     8.12   0.000     .1068514    .1863113
         dummy2_70 |   .1318514   .0178176     7.40   0.000     .0926351    .1710678
         dummy2_71 |   .1758843   .0188088     9.35   0.000     .1344863    .2172823
         dummy2_72 |   .1512104   .0186812     8.09   0.000     .1100934    .1923275
         dummy2_73 |   .0822332   .0200882     4.09   0.002     .0380194     .126447
         dummy2_74 |   .1749532   .0179829     9.73   0.000     .1353732    .2145332
         dummy2_75 |   .1655235   .0184617     8.97   0.000     .1248896    .2061573
         dummy2_76 |   .1678679   .0191853     8.75   0.000     .1256414    .2100944
         dummy2_77 |      .1571   .0183667     8.55   0.000     .1166752    .1975248
         dummy2_78 |   .1586103   .0186478     8.51   0.000     .1175667     .199654
         dummy2_79 |   .1748467   .0191175     9.15   0.000     .1327693     .216924
         dummy2_80 |   .1688281   .0185331     9.11   0.000     .1280371    .2096191
         dummy2_81 |   .1403601   .0184337     7.61   0.000     .0997878    .1809325
         dummy2_82 |   .1879662   .0195197     9.63   0.000     .1450036    .2309288
         dummy2_83 |   .1572492   .0196163     8.02   0.000     .1140742    .2004243
         dummy2_84 |    .154997   .0189666     8.17   0.000     .1132518    .1967422
         dummy2_85 |   .1757403   .0193722     9.07   0.000     .1331023    .2183783
         dummy2_86 |   .2130445   .0194035    10.98   0.000     .1703377    .2557513
         dummy2_87 |   .1302613   .0196416     6.63   0.000     .0870305    .1734922
         dummy2_88 |    .089723   .0192597     4.66   0.001     .0473327    .1321133
         dummy2_89 |   .2180866   .0178345    12.23   0.000     .1788331      .25734
         dummy2_90 |    .079968   .0386396     2.07   0.063    -.0050772    .1650131
         dummy2_91 |     .10346   .0141134     7.33   0.000     .0723965    .1345235
         dummy2_92 |   .1902631   .0122972    15.47   0.000     .1631971    .2173291
         dummy2_93 |   .1812661    .013173    13.76   0.000     .1522725    .2102598
         dummy2_94 |   .1852849    .013004    14.25   0.000     .1566634    .2139064
         dummy2_95 |   .3683339   .0125854    29.27   0.000     .3406337     .396034
         dummy2_96 |   .1378992   .0128377    10.74   0.000     .1096437    .1661547
         dummy2_97 |   .2117153   .0125881    16.82   0.000     .1840091    .2394216
         dummy2_98 |   .1047427   .0144995     7.22   0.000     .0728294     .136656
         dummy2_99 |   .0467834   .0126613     3.69   0.004     .0189161    .0746507
        dummy2_100 |   .2233258   .0155484    14.36   0.000     .1891039    .2575476
        dummy2_101 |   .1085779    .016833     6.45   0.000     .0715287    .1456271
        dummy2_102 |   -.064502   .0135704    -4.75   0.001    -.0943703   -.0346338
        dummy2_103 |   .2502479   .0124864    20.04   0.000     .2227655    .2777302
        dummy2_104 |   .1526007   .0160398     9.51   0.000     .1172974    .1879041
        dummy2_105 |   .1789669   .0179237     9.98   0.000     .1395171    .2184167
        dummy2_106 |   .1374019   .0171442     8.01   0.000     .0996676    .1751361
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .2067702   .0162564    12.72   0.000       .17099    .2425504
        dummy2_110 |          0  (omitted)
        dummy2_111 |   .1712935    .018683     9.17   0.000     .1301726    .2124144
        dummy2_112 |   .1146604   .0148597     7.72   0.000     .0819545    .1473664
        dummy2_113 |     .13893   .0175083     7.94   0.000     .1003945    .1774655
        dummy2_114 |    .137743   .0181442     7.59   0.000     .0978078    .1776782
        dummy2_115 |   .1755039   .0183332     9.57   0.000     .1351528    .2158549
        dummy2_116 |   .1484179   .0184376     8.05   0.000     .1078369    .1889988
        dummy2_117 |   .0884332    .018611     4.75   0.001     .0474707    .1293957
        dummy2_118 |   .1435186   .0156813     9.15   0.000     .1090043    .1780329
        dummy2_119 |   .1568087   .0184102     8.52   0.000     .1162882    .1973292
        dummy2_120 |   .1635535   .0189637     8.62   0.000     .1218146    .2052924
        dummy2_121 |   .1544247   .0179807     8.59   0.000     .1148494        .194
        dummy2_122 |   .1447672   .0180463     8.02   0.000     .1050476    .1844869
        dummy2_123 |   .1269861   .0168981     7.51   0.000     .0897936    .1641787
        dummy2_124 |   .1174996   .0155318     7.57   0.000     .0833144    .1516848
        dummy2_125 |   .1611714   .0188314     8.56   0.000     .1197237     .202619
        dummy2_126 |   .1670377   .0190346     8.78   0.000     .1251428    .2089326
        dummy2_127 |   .1492488   .0197057     7.57   0.000     .1058769    .1926206
        dummy2_128 |   .1474085   .0193325     7.62   0.000     .1048579     .189959
        dummy2_129 |    .163407    .020081     8.14   0.000     .1192091    .2076049
        dummy2_130 |   .2326073   .0200465    11.60   0.000     .1884853    .2767294
        dummy2_131 |   .1755308   .0188333     9.32   0.000     .1340789    .2169827
        dummy2_132 |   .1703515    .019772     8.62   0.000     .1268337    .2138693
        dummy2_133 |   .1148508    .017085     6.72   0.000      .077247    .1524546
        dummy2_134 |   .0115602   .0454379     0.25   0.804    -.0884479    .1115683
        dummy2_135 |   .0521432   .0120101     4.34   0.001     .0257091    .0785773
        dummy2_136 |   .0913968   .0177135     5.16   0.000     .0524096     .130384
        dummy2_137 |   .1222482   .0187405     6.52   0.000     .0810007    .1634957
        dummy2_138 |   .1039245   .0158816     6.54   0.000     .0689693    .1388797
        dummy2_139 |          0  (omitted)
        dummy2_140 |    .089075   .0160103     5.56   0.000     .0538365    .1243135
        dummy2_141 |   .1489803   .0181314     8.22   0.000     .1090734    .1888872
        dummy2_142 |   .1366102   .0189285     7.22   0.000     .0949488    .1782715
        dummy2_143 |   .0991775   .0134098     7.40   0.000     .0696627    .1286923
        dummy2_144 |    .105509   .0144189     7.32   0.000     .0737732    .1372449
        dummy2_145 |   .0948174   .0108516     8.74   0.000     .0709332    .1187016
        dummy2_146 |   .1135634   .0147377     7.71   0.000     .0811259    .1460009
        dummy2_147 |   .1398504   .0185983     7.52   0.000     .0989158    .1807851
        dummy2_148 |   .1145739   .0148329     7.72   0.000     .0819268     .147221
        dummy2_149 |  -.0067638   .0021794    -3.10   0.010    -.0115607   -.0019669
        dummy2_150 |   .0856386   .0123079     6.96   0.000     .0585492     .112728
        dummy2_151 |   .0638265   .0087784     7.27   0.000     .0445054    .0831476
        dummy2_152 |   .1215801   .0146427     8.30   0.000     .0893519    .1538084
        dummy2_153 |   -.006084   .0076254    -0.80   0.442    -.0228675    .0106994
        dummy2_154 |          0  (omitted)
        dummy2_155 |   .1133918   .0207179     5.47   0.000     .0677921    .1589915
        dummy2_156 |   .1536335   .0232681     6.60   0.000     .1024207    .2048462
        dummy2_157 |     .14011    .019268     7.27   0.000     .0977013    .1825186
        dummy2_158 |    .061901   .0269469     2.30   0.042     .0025914    .1212107
        dummy2_159 |   .0959939   .0194304     4.94   0.000     .0532279    .1387599
        dummy2_160 |   .1398365   .0199756     7.00   0.000     .0958706    .1838025
        dummy2_161 |   .2409534   .0188958    12.75   0.000     .1993642    .2825427
        dummy2_162 |    .148723    .019702     7.55   0.000     .1053593    .1920868
        dummy2_163 |    .111509   .0191106     5.83   0.000     .0694468    .1535711
        dummy2_164 |   .1387142    .020175     6.88   0.000     .0943092    .1831192
        dummy2_165 |   .1325473   .0196163     6.76   0.000     .0893722    .1757225
        dummy2_166 |   .1348592   .0194291     6.94   0.000      .092096    .1776224
        dummy2_167 |  -.0068924   .0424124    -0.16   0.874    -.1002415    .0864567
        dummy2_168 |   .0963843   .0232703     4.14   0.002     .0451668    .1476018
        dummy2_169 |   .1328969   .0202863     6.55   0.000     .0882471    .1775468
        dummy2_170 |   .1758941   .0213281     8.25   0.000     .1289513     .222837
        dummy2_171 |   .1278967   .0207439     6.17   0.000     .0822398    .1735536
        dummy2_172 |   .1257619    .020334     6.18   0.000      .081007    .1705168
        dummy2_173 |   .1429826   .0208316     6.86   0.000     .0971325    .1888328
        dummy2_174 |    .215238   .0219401     9.81   0.000     .1669481    .2635278
        dummy2_175 |   .1421202   .0205356     6.92   0.000     .0969217    .1873188
        dummy2_176 |   .1271969    .020489     6.21   0.000     .0821009    .1722928
        dummy2_177 |   .1535865   .0172734     8.89   0.000      .115568    .1916051
        dummy2_178 |   .0300042   .0324519     0.92   0.375    -.0414219    .1014303
        dummy2_179 |   .1770758   .0143207    12.37   0.000     .1455561    .2085955
        dummy2_180 |   .1568287   .0140272    11.18   0.000      .125955    .1877024
        dummy2_181 |    .123774   .0152655     8.11   0.000     .0901748    .1573733
        dummy2_182 |   .1744966   .0155072    11.25   0.000     .1403656    .2086277
        dummy2_183 |   .1228051   .0127518     9.63   0.000     .0947386    .1508717
        dummy2_184 |   .1305385   .0139813     9.34   0.000     .0997659    .1613112
        dummy2_185 |   .1609894   .0148441    10.85   0.000     .1283176    .1936611
        dummy2_186 |   .1611274   .0158738    10.15   0.000     .1261893    .1960654
        dummy2_187 |   .1685261   .0152717    11.04   0.000     .1349134    .2021388
        dummy2_188 |   .1349881   .0135451     9.97   0.000     .1051755    .1648006
        dummy2_189 |   .1326442   .0146648     9.05   0.000     .1003673    .1649211
        dummy2_190 |   .1040239   .0137531     7.56   0.000     .0737536    .1342942
        dummy2_191 |   .1423704   .0156712     9.08   0.000     .1078783    .1768626
        dummy2_192 |   .1887582   .0175695    10.74   0.000      .150088    .2274284
        dummy2_193 |   .1438121   .0168067     8.56   0.000     .1068208    .1808035
        dummy2_194 |   .1324434   .0165298     8.01   0.000     .0960615    .1688252
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |   .2106054   .0159804    13.18   0.000     .1754328    .2457779
        dummy2_198 |    .149817    .016559     9.05   0.000     .1133708    .1862632
        dummy2_199 |   .1501077   .0213242     7.04   0.000     .1031733    .1970421
        dummy2_200 |   .0410163   .0274034     1.50   0.163    -.0192982    .1013308
        dummy2_201 |   .1145741   .0196147     5.84   0.000     .0714025    .1577457
        dummy2_202 |   .0514866   .0261814     1.97   0.075    -.0061381    .1091114
        dummy2_203 |    .170942   .0206919     8.26   0.000     .1253994    .2164846
        dummy2_204 |   .1388517   .0207096     6.70   0.000     .0932702    .1844332
        dummy2_205 |   .0924869   .0178201     5.19   0.000     .0532651    .1317086
        dummy2_206 |   .1125787   .0192002     5.86   0.000     .0703193    .1548381
        dummy2_207 |   .1246012    .019371     6.43   0.000     .0819659    .1672364
        dummy2_208 |   .1444512   .0203742     7.09   0.000      .099608    .1892945
        dummy2_209 |   .1099431   .0197546     5.57   0.000     .0664634    .1534227
        dummy2_210 |   .1370575   .0196547     6.97   0.000     .0937979    .1803172
        dummy2_211 |   .2215406   .0206445    10.73   0.000     .1761023    .2669788
        dummy2_212 |   .1441519   .0202893     7.10   0.000     .0994955    .1888082
        dummy2_213 |   .1725873   .0202249     8.53   0.000     .1280726     .217102
        dummy2_214 |   .1238387   .0209804     5.90   0.000     .0776611    .1700162
        dummy2_215 |   .1317297   .0210518     6.26   0.000     .0853951    .1780644
        dummy2_216 |   .1490118   .0204986     7.27   0.000     .1038948    .1941288
        dummy2_217 |   .1341122   .0208832     6.42   0.000     .0881486    .1800759
        dummy2_218 |   .1716867   .0208377     8.24   0.000     .1258232    .2175502
        dummy2_219 |   .1234039   .0204283     6.04   0.000     .0784415    .1683663
        dummy2_220 |     .12449   .0206674     6.02   0.000     .0790014    .1699787
        dummy2_221 |   .1342107   .0308398     4.35   0.001     .0663328    .2020887
        dummy2_222 |   .0977292   .0303793     3.22   0.008     .0308648    .1645936
        dummy2_223 |   .1166901   .0291666     4.00   0.002     .0524949    .1808854
        dummy2_224 |   .1177264    .030017     3.92   0.002     .0516595    .1837933
        dummy2_225 |   .1088685   .0292849     3.72   0.003     .0444129    .1733242
        dummy2_226 |   .1253513   .0294958     4.25   0.001     .0604314    .1902712
        dummy2_227 |   .0979566   .0293436     3.34   0.007     .0333716    .1625415
        dummy2_228 |    .116567   .0303136     3.85   0.003     .0498472    .1832868
        dummy2_229 |   .1196195   .0294241     4.07   0.002     .0548575    .1843814
        dummy2_230 |   .1489066   .0300438     4.96   0.000     .0827807    .2150325
        dummy2_231 |   .1404297   .0292753     4.80   0.001     .0759952    .2048641
        dummy2_232 |   .1312197    .029328     4.47   0.001     .0666691    .1957702
        dummy2_233 |   .1084625   .0317887     3.41   0.006     .0384961    .1784288
        dummy2_234 |   .1116072   .0304582     3.66   0.004     .0445693    .1786452
        dummy2_235 |   .1113529   .0297052     3.75   0.003     .0459722    .1767336
        dummy2_236 |   .1364615   .0303212     4.50   0.001     .0697249    .2031981
        dummy2_237 |   .1360659   .0299897     4.54   0.001     .0700589    .2020729
        dummy2_238 |   .1275866   .0295043     4.32   0.001     .0626481    .1925252
        dummy2_239 |   .1514708   .0296071     5.12   0.000     .0863061    .2166355
        dummy2_240 |   .1825438   .0297761     6.13   0.000      .117007    .2480805
        dummy2_241 |   .1331736   .0311788     4.27   0.001     .0645494    .2017978
        dummy2_242 |   .1282274    .029492     4.35   0.001      .063316    .1931387
        dummy2_243 |   .1551694   .0282056     5.50   0.000     .0930893    .2172496
        dummy2_244 |   .0826193   .0284904     2.90   0.014     .0199125    .1453261
        dummy2_245 |    .146968   .0269267     5.46   0.000     .0877028    .2062333
        dummy2_246 |   .1611544   .0269457     5.98   0.000     .1018473    .2204615
        dummy2_247 |   .1367562   .0270538     5.05   0.000     .0772112    .1963012
        dummy2_248 |   .1615009   .0271462     5.95   0.000     .1017526    .2212493
        dummy2_249 |   .2081174   .0280876     7.41   0.000      .146297    .2699377
        dummy2_250 |   .1298083   .0282413     4.60   0.001     .0676497    .1919669
        dummy2_251 |   .1626176   .0269468     6.03   0.000     .1033081    .2219271
        dummy2_252 |   .1533031    .027449     5.59   0.000     .0928882     .213718
        dummy2_253 |   .1612716   .0268174     6.01   0.000     .1022468    .2202964
        dummy2_254 |   .1583704   .0268287     5.90   0.000     .0993209    .2174199
        dummy2_255 |    .249259   .0283924     8.78   0.000     .1867677    .3117502
        dummy2_256 |   .1757923   .0273083     6.44   0.000     .1156872    .2358974
        dummy2_257 |   .1615548   .0269462     6.00   0.000     .1022466     .220863
        dummy2_258 |   .1361943   .0283337     4.81   0.001     .0738322    .1985563
        dummy2_259 |   .1131008   .0273328     4.14   0.002     .0529416    .1732599
        dummy2_260 |   .1347865   .0270932     4.97   0.000     .0751548    .1944182
        dummy2_261 |    .147477   .0270028     5.46   0.000     .0880443    .2069097
        dummy2_262 |   .1506221   .0272184     5.53   0.000     .0907148    .2105294
        dummy2_263 |   .1245939   .0296049     4.21   0.001     .0594339    .1897539
        dummy2_264 |   .1219658   .0268112     4.55   0.001     .0629549    .1809767
             _cons |  -.1165995   .0594613    -1.96   0.076     -.247473     .014274
------------------------------------------------------------------------------------

. eststo table3_2

. reg tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.pmr l.antitrust y_* dummy* if tfpcorre
> ctedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, cl(country)

Linear regression                                      Number of obs =    1847
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2689
                                                       Root MSE      =  .06346

                                     (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------------
                   |               Robust
tfpcorrectedover~s |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |    .065392   .0232696     2.81   0.017      .014176    .1166081
                   |
     tecnogapklems |
               L1. |   .0074661   .0041295     1.81   0.098     -.001623    .0165552
                   |
         ind_trend |   .0442693   .0051318     8.63   0.000     .0329743    .0555643
                   |
          tradelib |
               L1. |   .0143552   .0039744     3.61   0.004     .0056075    .0231029
                   |
               pmr |
               L1. |  -.0335746   .0197414    -1.70   0.117     -.077025    .0098758
                   |
         antitrust |
               L1. |   .0956538   .0255106     3.75   0.003     .0395054    .1518022
                   |
               y_1 |          0  (omitted)
               y_2 |          0  (omitted)
               y_3 |    .004922   .0117179     0.42   0.683    -.0208689     .030713
               y_4 |  -.0191119   .0128517    -1.49   0.165    -.0473983    .0091745
               y_5 |   .0066743   .0106379     0.63   0.543    -.0167395    .0300881
               y_6 |   .0074309    .012686     0.59   0.570    -.0204909    .0353526
               y_7 |  -.0223761   .0117519    -1.90   0.083    -.0482418    .0034896
               y_8 |  -.0184378   .0165152    -1.12   0.288    -.0547875    .0179119
               y_9 |  -.0152696   .0137639    -1.11   0.291    -.0455638    .0150245
              y_10 |   -.007246   .0152093    -0.48   0.643    -.0407214    .0262295
              y_11 |   -.017569   .0162104    -1.08   0.302    -.0532478    .0181098
          dummy2_1 |   .1149198   .0239817     4.79   0.001     .0621363    .1677033
          dummy2_2 |   .0571796    .023746     2.41   0.035      .004915    .1094442
          dummy2_3 |   .1283348   .0216298     5.93   0.000      .080728    .1759416
          dummy2_4 |   .1003874   .0227895     4.40   0.001      .050228    .1505469
          dummy2_5 |   .1222245   .0223751     5.46   0.000     .0729772    .1714719
          dummy2_6 |   .1778628   .0222873     7.98   0.000     .1288088    .2269168
          dummy2_7 |    .103093   .0211528     4.87   0.000     .0565361      .14965
          dummy2_8 |   .1229237   .0229468     5.36   0.000     .0724181    .1734293
          dummy2_9 |    .099434   .0219688     4.53   0.001      .051081    .1477871
         dummy2_10 |   .1209837   .0225106     5.37   0.000     .0714381    .1705292
         dummy2_11 |   .1369619   .0218806     6.26   0.000      .088803    .1851207
         dummy2_12 |   .1022786   .0227642     4.49   0.001      .052175    .1523823
         dummy2_13 |   .0887112   .0322082     2.75   0.019     .0178215    .1596009
         dummy2_14 |    .091555   .0252271     3.63   0.004     .0360306    .1470794
         dummy2_15 |   .1251024   .0221811     5.64   0.000      .076282    .1739227
         dummy2_16 |   .1077665    .023269     4.63   0.001     .0565518    .1589813
         dummy2_17 |   .1320182   .0224963     5.87   0.000      .082504    .1815323
         dummy2_18 |   .1289965   .0224821     5.74   0.000     .0795138    .1784792
         dummy2_19 |   .1464094    .022517     6.50   0.000     .0968498     .195969
         dummy2_20 |   .1181927   .0237484     4.98   0.000     .0659229    .1704625
         dummy2_21 |   .0889114   .0234522     3.79   0.003     .0372935    .1405293
         dummy2_22 |   .1185246   .0222475     5.33   0.000     .0695581    .1674911
         dummy2_23 |   .2188848   .0173371    12.63   0.000     .1807261    .2570436
         dummy2_24 |   .1403095   .0131059    10.71   0.000     .1114636    .1691554
         dummy2_25 |    .141996   .0165159     8.60   0.000     .1056448    .1783472
         dummy2_26 |   .1776528   .0135259    13.13   0.000     .1478824    .2074232
         dummy2_27 |   .2024075   .0167098    12.11   0.000     .1656294    .2391856
         dummy2_28 |   .1537433   .0142669    10.78   0.000     .1223421    .1851446
         dummy2_29 |   .1709324   .0136928    12.48   0.000     .1407948    .2010701
         dummy2_30 |   .1209231   .0123229     9.81   0.000     .0938006    .1480456
         dummy2_31 |   .1798032   .0127007    14.16   0.000     .1518491    .2077574
         dummy2_32 |   .2102847   .0165662    12.69   0.000     .1738226    .2467467
         dummy2_33 |   .1454721   .0144529    10.07   0.000     .1136616    .1772827
         dummy2_34 |   .1958386    .014329    13.67   0.000     .1643007    .2273765
         dummy2_35 |   .1442474   .0138167    10.44   0.000     .1138371    .1746577
         dummy2_36 |   .1201787   .0136143     8.83   0.000     .0902137    .1501436
         dummy2_37 |   .1571703   .0152157    10.33   0.000     .1236807    .1906598
         dummy2_38 |   .1714987   .0171841     9.98   0.000     .1336767    .2093206
         dummy2_39 |   .1488047   .0181289     8.21   0.000     .1089033     .188706
         dummy2_40 |   .1023106    .018176     5.63   0.000     .0623054    .1423157
         dummy2_41 |   .1427638   .0190703     7.49   0.000     .1007904    .1847372
         dummy2_42 |   .1276567   .0189846     6.72   0.000     .0858719    .1694416
         dummy2_43 |   .1504833   .0169972     8.85   0.000     .1130727    .1878938
         dummy2_44 |   .1659432   .0183094     9.06   0.000     .1256444    .2062419
         dummy2_45 |     .19098   .0156209    12.23   0.000     .1565985    .2253615
         dummy2_46 |          0  (omitted)
         dummy2_47 |   .1402003   .0125306    11.19   0.000     .1126207    .1677799
         dummy2_48 |   .1780778   .0119588    14.89   0.000     .1517567    .2043989
         dummy2_49 |          0  (omitted)
         dummy2_50 |   .1673491   .0151203    11.07   0.000     .1340696    .2006286
         dummy2_51 |  -.1042401   .0118146    -8.82   0.000    -.1302439   -.0782362
         dummy2_52 |   .1368909   .0116087    11.79   0.000     .1113404    .1624415
         dummy2_53 |   .2044366   .0131235    15.58   0.000      .175552    .2333212
         dummy2_54 |   .1576886   .0136544    11.55   0.000     .1276354    .1877418
         dummy2_55 |   .1638479   .0135131    12.13   0.000     .1341057      .19359
         dummy2_56 |   .1982085   .0113908    17.40   0.000     .1731376    .2232795
         dummy2_57 |    .173939   .0130953    13.28   0.000     .1451165    .2027615
         dummy2_58 |   .1212882   .0121256    10.00   0.000        .0946    .1479765
         dummy2_59 |    .180723   .0129211    13.99   0.000     .1522839    .2091621
         dummy2_60 |   .2657152   .0153556    17.30   0.000     .2319178    .2995126
         dummy2_61 |   .1633389   .0158455    10.31   0.000     .1284631    .1982147
         dummy2_62 |   .1721941   .0147779    11.65   0.000     .1396681    .2047201
         dummy2_63 |   .1543752   .0154167    10.01   0.000     .1204432    .1883072
         dummy2_64 |   .2828812   .0165873    17.05   0.000     .2463728    .3193895
         dummy2_65 |   .1358223   .0142035     9.56   0.000     .1045607    .1670839
         dummy2_66 |   .1632704   .0172168     9.48   0.000     .1253765    .2011643
         dummy2_67 |   .1701296   .0172969     9.84   0.000     .1320594    .2081998
         dummy2_68 |   .0487323   .0207744     2.35   0.039     .0030081    .0944565
         dummy2_69 |    .135311    .016252     8.33   0.000     .0995406    .1710815
         dummy2_70 |   .1206624   .0158462     7.61   0.000     .0857851    .1555396
         dummy2_71 |   .1645539   .0169314     9.72   0.000     .1272883    .2018196
         dummy2_72 |    .139897   .0168561     8.30   0.000     .1027969    .1769971
         dummy2_73 |   .0723408   .0181872     3.98   0.002      .032311    .1123705
         dummy2_74 |   .1637421   .0162605    10.07   0.000      .127953    .1995313
         dummy2_75 |   .1542021   .0165945     9.29   0.000     .1176779    .1907263
         dummy2_76 |   .1565674   .0173549     9.02   0.000     .1183695    .1947653
         dummy2_77 |    .145774   .0164953     8.84   0.000     .1094681    .1820798
         dummy2_78 |   .1472855   .0167881     8.77   0.000     .1103352    .1842359
         dummy2_79 |   .1636215   .0171552     9.54   0.000     .1258631    .2013799
         dummy2_80 |   .1575355   .0165958     9.49   0.000     .1210084    .1940626
         dummy2_81 |   .1290637   .0164862     7.83   0.000     .0927778    .1653496
         dummy2_82 |   .1767085   .0178442     9.90   0.000     .1374338    .2159832
         dummy2_83 |   .1459149   .0178602     8.17   0.000      .106605    .1852248
         dummy2_84 |   .1436787   .0172674     8.32   0.000     .1056734    .1816839
         dummy2_85 |   .1643953   .0176254     9.33   0.000      .125602    .2031885
         dummy2_86 |   .2017007   .0176554    11.42   0.000     .1628415    .2405599
         dummy2_87 |   .1190358   .0180953     6.58   0.000     .0792084    .1588633
         dummy2_88 |   .0783611   .0175148     4.47   0.001     .0398112    .1169109
         dummy2_89 |   .2258597   .0172841    13.07   0.000     .1878178    .2639017
         dummy2_90 |    .088302   .0380484     2.32   0.041     .0045581    .1720459
         dummy2_91 |   .1082226   .0129498     8.36   0.000     .0797204    .1367249
         dummy2_92 |    .195182   .0107397    18.17   0.000     .1715441    .2188199
         dummy2_93 |   .1860895   .0117506    15.84   0.000     .1602266    .2119525
         dummy2_94 |   .1900864   .0111672    17.02   0.000     .1655076    .2146651
         dummy2_95 |   .3734058   .0121741    30.67   0.000     .3466109    .4002007
         dummy2_96 |   .1428129   .0111378    12.82   0.000     .1182986    .1673271
         dummy2_97 |   .2165874   .0104817    20.66   0.000     .1935173    .2396575
         dummy2_98 |   .1095159   .0129633     8.45   0.000     .0809839    .1380478
         dummy2_99 |   .0516345   .0105788     4.88   0.000     .0283508    .0749182
        dummy2_100 |   .2282719   .0136452    16.73   0.000     .1982391    .2583047
        dummy2_101 |   .1135538   .0151795     7.48   0.000     .0801439    .1469637
        dummy2_102 |  -.0596632   .0111928    -5.33   0.000    -.0842984   -.0350281
        dummy2_103 |   .2551446   .0109788    23.24   0.000     .2309805    .2793087
        dummy2_104 |   .1599507   .0155383    10.29   0.000     .1257511    .1941502
        dummy2_105 |    .186711   .0173603    10.76   0.000     .1485012    .2249208
        dummy2_106 |   .1451624   .0166558     8.72   0.000     .1085033    .1818216
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .2145222   .0159556    13.44   0.000     .1794041    .2496403
        dummy2_110 |          0  (omitted)
        dummy2_111 |   .1755755   .0167108    10.51   0.000     .1387953    .2123557
        dummy2_112 |   .1189929   .0117633    10.12   0.000     .0931021    .1448837
        dummy2_113 |   .1431911    .015248     9.39   0.000     .1096304    .1767518
        dummy2_114 |   .1420123   .0159774     8.89   0.000     .1068462    .1771784
        dummy2_115 |   .1797487   .0161091    11.16   0.000     .1442929    .2152045
        dummy2_116 |   .1526526   .0162013     9.42   0.000     .1169938    .1883113
        dummy2_117 |   .0923986   .0156733     5.90   0.000     .0579018    .1268953
        dummy2_118 |   .1478747   .0134488    11.00   0.000     .1182742    .1774752
        dummy2_119 |   .1610446   .0161806     9.95   0.000     .1254314    .1966579
        dummy2_120 |    .167804   .0169272     9.91   0.000     .1305476    .2050605
        dummy2_121 |   .1586725   .0157303    10.09   0.000     .1240504    .1932946
        dummy2_122 |   .1490165   .0157964     9.43   0.000     .1142489    .1837841
        dummy2_123 |   .1313243   .0145536     9.02   0.000      .099292    .1633567
        dummy2_124 |   .1219874   .0126617     9.63   0.000     .0941193    .1498555
        dummy2_125 |     .16542   .0167276     9.89   0.000     .1286029    .2022372
        dummy2_126 |   .1712933   .0171371    10.00   0.000     .1335749    .2090118
        dummy2_127 |   .1534634    .017656     8.69   0.000     .1146028     .192324
        dummy2_128 |    .151623   .0173087     8.76   0.000     .1135269    .1897191
        dummy2_129 |   .1675903   .0179299     9.35   0.000     .1281269    .2070537
        dummy2_130 |   .2367933   .0179044    13.23   0.000     .1973859    .2762006
        dummy2_131 |   .1797947   .0170374    10.55   0.000     .1422956    .2172939
        dummy2_132 |   .1745435   .0176549     9.89   0.000     .1356852    .2134018
        dummy2_133 |    .116638     .01641     7.11   0.000     .0805199     .152756
        dummy2_134 |    .014204   .0448253     0.32   0.757    -.0844557    .1128637
        dummy2_135 |   .0534625   .0115351     4.63   0.001      .028074     .078851
        dummy2_136 |   .0932911   .0167546     5.57   0.000     .0564144    .1301677
        dummy2_137 |   .1243371   .0177496     7.01   0.000     .0852704    .1634038
        dummy2_138 |   .1055888    .015264     6.92   0.000     .0719929    .1391846
        dummy2_139 |          0  (omitted)
        dummy2_140 |   .0907995   .0155291     5.85   0.000     .0566201    .1249789
        dummy2_141 |   .1508677   .0174335     8.65   0.000     .1124967    .1892386
        dummy2_142 |   .1385681   .0181636     7.63   0.000     .0985902     .178546
        dummy2_143 |    .100602   .0128533     7.83   0.000      .072312     .128892
        dummy2_144 |   .1070786   .0137628     7.78   0.000      .076787    .1373703
        dummy2_145 |    .095915   .0103017     9.31   0.000     .0732411    .1185889
        dummy2_146 |   .1151926   .0141667     8.13   0.000      .084012    .1463732
        dummy2_147 |   .1418575   .0177128     8.01   0.000     .1028718    .1808432
        dummy2_148 |   .1161221   .0143643     8.08   0.000     .0845065    .1477377
        dummy2_149 |  -.0066471   .0020956    -3.17   0.009    -.0112595   -.0020347
        dummy2_150 |   .0869521   .0119214     7.29   0.000     .0607133    .1131909
        dummy2_151 |    .064685   .0084056     7.70   0.000     .0461844    .0831856
        dummy2_152 |   .1230982   .0140822     8.74   0.000     .0921035    .1540928
        dummy2_153 |  -.0055119   .0075547    -0.73   0.481    -.0221397    .0111158
        dummy2_154 |          0  (omitted)
        dummy2_155 |   .1190877   .0185136     6.43   0.000     .0783394    .1598359
        dummy2_156 |   .1555347   .0213604     7.28   0.000     .1085208    .2025487
        dummy2_157 |   .1457371   .0168241     8.66   0.000     .1087076    .1827666
        dummy2_158 |   .0677709    .024178     2.80   0.017     .0145555    .1209863
        dummy2_159 |   .1016948   .0168064     6.05   0.000     .0647041    .1386855
        dummy2_160 |   .1454607    .017703     8.22   0.000     .1064966    .1844249
        dummy2_161 |   .2458097   .0165456    14.86   0.000      .209393    .2822264
        dummy2_162 |   .1544691   .0171962     8.98   0.000     .1166205    .1923178
        dummy2_163 |   .1171954   .0162984     7.19   0.000     .0813228     .153068
        dummy2_164 |    .144383   .0179075     8.06   0.000     .1049688    .1837972
        dummy2_165 |    .138209   .0170613     8.10   0.000     .1006574    .1757606
        dummy2_166 |   .1405527    .016727     8.40   0.000     .1037367    .1773686
        dummy2_167 |  -.0007301   .0403711    -0.02   0.986    -.0895864    .0881262
        dummy2_168 |   .1026391   .0199865     5.14   0.000      .058649    .1466291
        dummy2_169 |   .1385445   .0179443     7.72   0.000     .0990494    .1780396
        dummy2_170 |   .1815159   .0193453     9.38   0.000     .1389372    .2240946
        dummy2_171 |    .133491   .0188078     7.10   0.000     .0920952    .1748868
        dummy2_172 |   .1313465   .0184204     7.13   0.000     .0908034    .1718896
        dummy2_173 |   .1485829   .0188964     7.86   0.000     .1069923    .1901734
        dummy2_174 |   .2208724    .019975    11.06   0.000     .1769078     .264837
        dummy2_175 |   .1477735   .0187431     7.88   0.000     .1065202    .1890268
        dummy2_176 |   .1327916   .0185752     7.15   0.000     .0919079    .1736753
        dummy2_177 |   .1606253   .0170978     9.39   0.000     .1229932    .1982574
        dummy2_178 |   .0374212   .0318348     1.18   0.265    -.0326467    .1074891
        dummy2_179 |   .1840842   .0141324    13.03   0.000     .1529791    .2151893
        dummy2_180 |   .1638713    .013705    11.96   0.000     .1337068    .1940358
        dummy2_181 |   .1307633   .0149139     8.77   0.000     .0979381    .1635885
        dummy2_182 |   .1814645   .0152077    11.93   0.000     .1479925    .2149365
        dummy2_183 |   .1297931   .0122421    10.60   0.000     .1028484    .1567378
        dummy2_184 |   .1376622   .0137516    10.01   0.000     .1073951    .1679293
        dummy2_185 |   .1679645   .0143498    11.71   0.000     .1363808    .1995481
        dummy2_186 |    .168121   .0157556    10.67   0.000     .1334432    .2027989
        dummy2_187 |   .1755078   .0149017    11.78   0.000     .1427094    .2083062
        dummy2_188 |   .1419841   .0126635    11.21   0.000     .1141118    .1698563
        dummy2_189 |    .139733   .0135536    10.31   0.000     .1099017    .1695643
        dummy2_190 |   .1111201    .012923     8.60   0.000     .0826766    .1395635
        dummy2_191 |   .1493792   .0153974     9.70   0.000     .1154897    .1832687
        dummy2_192 |   .1957485   .0173697    11.27   0.000     .1575181     .233979
        dummy2_193 |   .1507877   .0166681     9.05   0.000     .1141014    .1874739
        dummy2_194 |   .1393458   .0162715     8.56   0.000     .1035325    .1751591
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |   .2175681   .0159301    13.66   0.000     .1825062      .25263
        dummy2_198 |   .1567413   .0163387     9.59   0.000     .1207801    .1927025
        dummy2_199 |   .1362323   .0189445     7.19   0.000     .0945357    .1779289
        dummy2_200 |   .0272077   .0259336     1.05   0.317    -.0298719    .0842873
        dummy2_201 |   .1006252   .0171448     5.87   0.000     .0628898    .1383607
        dummy2_202 |   .0377921   .0242424     1.56   0.147     -.015565    .0911492
        dummy2_203 |   .1569989   .0183262     8.57   0.000     .1166633    .1973345
        dummy2_204 |    .124883   .0183753     6.80   0.000     .0844394    .1653267
        dummy2_205 |   .0784627   .0156535     5.01   0.000     .0440097    .1129157
        dummy2_206 |     .09864   .0166696     5.92   0.000     .0619505    .1353295
        dummy2_207 |    .110687   .0168039     6.59   0.000     .0737018    .1476721
        dummy2_208 |   .1305307   .0178972     7.29   0.000     .0911393     .169922
        dummy2_209 |   .0959999   .0172837     5.55   0.000     .0579588     .134041
        dummy2_210 |   .1231393   .0171448     7.18   0.000     .0854039    .1608747
        dummy2_211 |   .2073866   .0189109    10.97   0.000      .165764    .2490091
        dummy2_212 |   .1303576   .0177055     7.36   0.000      .091388    .1693271
        dummy2_213 |   .1587398   .0177531     8.94   0.000     .1196655    .1978141
        dummy2_214 |   .1098889   .0186845     5.88   0.000     .0687646    .1510131
        dummy2_215 |   .1177854    .018767     6.28   0.000     .0764796    .1590912
        dummy2_216 |   .1350596    .018238     7.41   0.000     .0949179    .1752012
        dummy2_217 |   .1201292   .0186119     6.45   0.000     .0791646    .1610938
        dummy2_218 |    .157736   .0185607     8.50   0.000     .1168843    .1985878
        dummy2_219 |   .1094194    .018172     6.02   0.000     .0694231    .1494156
        dummy2_220 |   .1104893   .0184088     6.00   0.000     .0699719    .1510068
        dummy2_221 |    .130403   .0268527     4.86   0.001     .0713007    .1895054
        dummy2_222 |   .0939171   .0265619     3.54   0.005     .0354547    .1523795
        dummy2_223 |   .1128019   .0251949     4.48   0.001     .0573483    .1682556
        dummy2_224 |   .1139261   .0258267     4.41   0.001     .0570819    .1707704
        dummy2_225 |   .1049863   .0252215     4.16   0.002     .0494743    .1604984
        dummy2_226 |   .1214481   .0255736     4.75   0.001      .065161    .1777353
        dummy2_227 |   .0941446   .0255278     3.69   0.004     .0379583    .1503308
        dummy2_228 |   .1127976   .0263554     4.28   0.001     .0547896    .1708055
        dummy2_229 |   .1157414   .0254437     4.55   0.001     .0597403    .1717426
        dummy2_230 |   .1450313   .0261008     5.56   0.000     .0875837    .2024788
        dummy2_231 |   .1365531   .0252738     5.40   0.000     .0809258    .1921804
        dummy2_232 |   .1273678   .0252509     5.04   0.000     .0717909    .1829446
        dummy2_233 |   .1047389   .0276338     3.79   0.003     .0439174    .1655604
        dummy2_234 |   .1070654   .0262669     4.08   0.002     .0492523    .1648785
        dummy2_235 |   .1074921   .0256361     4.19   0.002     .0510674    .1639167
        dummy2_236 |   .1325987   .0264928     5.01   0.000     .0742885    .1909089
        dummy2_237 |   .1321624    .026157     5.05   0.000     .0745912    .1897336
        dummy2_238 |   .1236779   .0257031     4.81   0.001     .0671057      .18025
        dummy2_239 |   .1475431   .0257892     5.72   0.000     .0907815    .2043047
        dummy2_240 |   .1786366   .0259546     6.88   0.000     .1215109    .2357624
        dummy2_241 |   .1293785   .0274728     4.71   0.001     .0689113    .1898457
        dummy2_242 |   .1243077   .0256837     4.84   0.001     .0677782    .1808371
        dummy2_243 |    .139972   .0245613     5.70   0.000      .085913     .194031
        dummy2_244 |    .067543   .0249658     2.71   0.020     .0125936    .1224925
        dummy2_245 |   .1317408    .023306     5.65   0.000     .0804446    .1830371
        dummy2_246 |   .1459891   .0231672     6.30   0.000     .0949985    .1969797
        dummy2_247 |   .1215199    .023401     5.19   0.000     .0700145    .1730252
        dummy2_248 |   .1462587   .0235374     6.21   0.000     .0944532    .1980641
        dummy2_249 |   .1923917   .0245084     7.85   0.000     .1384492    .2463343
        dummy2_250 |   .1146925   .0246751     4.65   0.001     .0603828    .1690021
        dummy2_251 |   .1473774   .0233113     6.32   0.000     .0960695    .1986853
        dummy2_252 |    .138073   .0238045     5.80   0.000     .0856796    .1904663
        dummy2_253 |    .146036   .0231715     6.30   0.000     .0950359    .1970361
        dummy2_254 |   .1431384   .0231604     6.18   0.000     .0921627    .1941141
        dummy2_255 |   .2341259   .0246414     9.50   0.000     .1798906    .2883612
        dummy2_256 |   .1606717   .0235675     6.82   0.000     .1087999    .2125435
        dummy2_257 |   .1463466   .0232069     6.31   0.000     .0952685    .1974247
        dummy2_258 |   .1210497   .0247507     4.89   0.000     .0665739    .1755256
        dummy2_259 |   .0978513   .0237424     4.12   0.002     .0455946    .1501079
        dummy2_260 |   .1195676    .023519     5.08   0.000     .0678027    .1713326
        dummy2_261 |   .1322065   .0234318     5.64   0.000     .0806334    .1837795
        dummy2_262 |   .1353888   .0236278     5.73   0.000     .0833844    .1873932
        dummy2_263 |   .1095166    .026164     4.19   0.002     .0519302    .1671031
        dummy2_264 |   .1066968   .0232441     4.59   0.001     .0555368    .1578568
             _cons |  -.1317306   .0526608    -2.50   0.029    -.2476362    -.015825
------------------------------------------------------------------------------------

. eststo table3_3

. reg tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.pmr l.mergers y_* dummy* if tfpcorrect
> edoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, cl(country)

Linear regression                                      Number of obs =    1847
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2680
                                                       Root MSE      =  .06349

                                     (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------------
                   |               Robust
tfpcorrectedover~s |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |    .065313   .0233692     2.79   0.017     .0138777    .1167483
                   |
     tecnogapklems |
               L1. |   .0075037   .0041521     1.81   0.098    -.0016349    .0166423
                   |
         ind_trend |   .0441882   .0053662     8.23   0.000     .0323772    .0559992
                   |
          tradelib |
               L1. |   .0143991   .0039467     3.65   0.004     .0057124    .0230857
                   |
               pmr |
               L1. |  -.0248885   .0206094    -1.21   0.253    -.0702495    .0204724
                   |
           mergers |
               L1. |   .0743343   .0220948     3.36   0.006     .0257039    .1229646
                   |
               y_1 |          0  (omitted)
               y_2 |          0  (omitted)
               y_3 |   .0041269   .0120292     0.34   0.738    -.0223491    .0306029
               y_4 |  -.0197809   .0132842    -1.49   0.165    -.0490193    .0094575
               y_5 |   .0060172   .0106813     0.56   0.585    -.0174922    .0295265
               y_6 |   .0099377   .0125112     0.79   0.444    -.0175993    .0374747
               y_7 |  -.0189973   .0115376    -1.65   0.128    -.0443914    .0063968
               y_8 |  -.0140934   .0153332    -0.92   0.378    -.0478415    .0196547
               y_9 |  -.0105735    .013013    -0.81   0.434    -.0392149    .0180679
              y_10 |   .0005196   .0140691     0.04   0.971    -.0304462    .0314854
              y_11 |  -.0083838   .0145537    -0.58   0.576    -.0404162    .0236487
          dummy2_1 |   .1293018   .0252715     5.12   0.000     .0736796     .184924
          dummy2_2 |   .0715306   .0249696     2.86   0.015     .0165728    .1264883
          dummy2_3 |   .1427077   .0228872     6.24   0.000     .0923334    .1930821
          dummy2_4 |   .1146991   .0238521     4.81   0.001     .0622011    .1671972
          dummy2_5 |   .1366166   .0236782     5.77   0.000     .0845013    .1887319
          dummy2_6 |   .1922286   .0235355     8.17   0.000     .1404273      .24403
          dummy2_7 |    .117367    .022077     5.32   0.000     .0687757    .1659582
          dummy2_8 |   .1371868   .0238319     5.76   0.000     .0847331    .1896405
          dummy2_9 |   .1137721   .0231291     4.92   0.000     .0628654    .1646788
         dummy2_10 |   .1353394   .0237236     5.70   0.000      .083124    .1875547
         dummy2_11 |   .1513082   .0230668     6.56   0.000     .1005385    .2020779
         dummy2_12 |   .1165469   .0236245     4.93   0.000     .0645497    .1685442
         dummy2_13 |   .1028805   .0325588     3.16   0.009      .031219    .1745419
         dummy2_14 |    .106238    .026078     4.07   0.002     .0488406    .1636353
         dummy2_15 |   .1394556   .0233823     5.96   0.000     .0879915    .1909197
         dummy2_16 |   .1221567   .0245765     4.97   0.000     .0680643    .1762491
         dummy2_17 |   .1464056   .0237929     6.15   0.000     .0940377    .1987735
         dummy2_18 |   .1433614   .0237306     6.04   0.000     .0911308     .195592
         dummy2_19 |   .1608018   .0238229     6.75   0.000      .108368    .2132357
         dummy2_20 |   .1325894   .0250693     5.29   0.000     .0774121    .1877666
         dummy2_21 |   .1032434   .0246206     4.19   0.002     .0490539    .1574329
         dummy2_22 |   .1328948   .0235053     5.65   0.000     .0811599    .1846296
         dummy2_23 |   .2139857   .0174717    12.25   0.000     .1755308    .2524406
         dummy2_24 |   .1352698    .012978    10.42   0.000     .1067055    .1638342
         dummy2_25 |    .137081   .0166598     8.23   0.000     .1004132    .1737489
         dummy2_26 |   .1726585   .0136767    12.62   0.000     .1425562    .2027608
         dummy2_27 |   .1974913   .0167718    11.78   0.000     .1605769    .2344057
         dummy2_28 |   .1489619   .0145855    10.21   0.000     .1168593    .1810644
         dummy2_29 |   .1666326    .014134    11.79   0.000     .1355238    .1977414
         dummy2_30 |   .1158777   .0126411     9.17   0.000     .0880549    .1437006
         dummy2_31 |   .1744179   .0132019    13.21   0.000     .1453608     .203475
         dummy2_32 |   .2053672   .0166493    12.33   0.000     .1687223    .2420121
         dummy2_33 |   .1405152   .0146435     9.60   0.000      .108285    .1727454
         dummy2_34 |   .1908726   .0144397    13.22   0.000     .1590911    .2226542
         dummy2_35 |   .1387931   .0143202     9.69   0.000     .1072746    .1703115
         dummy2_36 |   .1145948   .0140247     8.17   0.000     .0837267    .1454629
         dummy2_37 |   .1522257   .0153418     9.92   0.000     .1184586    .1859928
         dummy2_38 |   .1667393   .0169886     9.81   0.000     .1293477     .204131
         dummy2_39 |   .1439135   .0181463     7.93   0.000     .1039737    .1838532
         dummy2_40 |   .0974159   .0181687     5.36   0.000     .0574268     .137405
         dummy2_41 |   .1378969   .0192375     7.17   0.000     .0955555    .1802383
         dummy2_42 |   .1231617   .0191577     6.43   0.000     .0809959    .1653275
         dummy2_43 |   .1457111   .0167143     8.72   0.000     .1089232    .1824989
         dummy2_44 |   .1610552   .0183437     8.78   0.000     .1206809    .2014295
         dummy2_45 |   .2149602   .0193331    11.12   0.000     .1724083    .2575121
         dummy2_46 |          0  (omitted)
         dummy2_47 |    .164133   .0160999    10.19   0.000     .1286973    .1995686
         dummy2_48 |   .1993244   .0154972    12.86   0.000     .1652154    .2334335
         dummy2_49 |          0  (omitted)
         dummy2_50 |   .1886702    .018259    10.33   0.000     .1484825    .2288579
         dummy2_51 |  -.0795043   .0165781    -4.80   0.001    -.1159924   -.0430162
         dummy2_52 |   .1607679   .0154364    10.41   0.000     .1267925    .1947433
         dummy2_53 |   .2283888   .0166452    13.72   0.000     .1917529    .2650247
         dummy2_54 |   .1816458   .0172203    10.55   0.000     .1437442    .2195475
         dummy2_55 |   .1878063   .0170413    11.02   0.000     .1502987    .2253138
         dummy2_56 |   .2221233   .0150534    14.76   0.000      .188991    .2552555
         dummy2_57 |   .1952102   .0166478    11.73   0.000     .1585687    .2318518
         dummy2_58 |   .1425414   .0156512     9.11   0.000     .1080933    .1769894
         dummy2_59 |   .2046612   .0166667    12.28   0.000     .1679781    .2413443
         dummy2_60 |   .2896901   .0189704    15.27   0.000     .2479364    .3314437
         dummy2_61 |   .1873368   .0191778     9.77   0.000     .1451267     .229547
         dummy2_62 |   .1961737   .0178835    10.97   0.000     .1568124    .2355349
         dummy2_63 |   .1783676   .0186109     9.58   0.000     .1374053      .21933
         dummy2_64 |   .3068855   .0201218    15.25   0.000     .2625977    .3511732
         dummy2_65 |   .1597756   .0175365     9.11   0.000     .1211781    .1983732
         dummy2_66 |   .1846273    .020003     9.23   0.000     .1406011    .2286536
         dummy2_67 |   .1785948   .0187031     9.55   0.000     .1374296    .2197601
         dummy2_68 |   .0569449   .0212173     2.68   0.021     .0102459    .1036439
         dummy2_69 |   .1437609   .0175849     8.18   0.000     .1050568    .1824651
         dummy2_70 |   .1290256   .0171473     7.52   0.000     .0912846    .1667666
         dummy2_71 |   .1730478   .0183784     9.42   0.000     .1325972    .2134984
         dummy2_72 |   .1483809   .0182541     8.13   0.000      .108204    .1885578
         dummy2_73 |   .0798032   .0194514     4.10   0.002     .0369909    .1226156
         dummy2_74 |   .1721515   .0174742     9.85   0.000     .1336909     .210612
         dummy2_75 |   .1626858   .0180214     9.03   0.000     .1230209    .2023507
         dummy2_76 |    .165057   .0187693     8.79   0.000     .1237461    .2063678
         dummy2_77 |   .1542575   .0179239     8.61   0.000     .1148074    .1937077
         dummy2_78 |    .155774   .0182158     8.55   0.000     .1156813    .1958667
         dummy2_79 |   .1720758   .0186299     9.24   0.000     .1310716      .21308
         dummy2_80 |   .1660082   .0180887     9.18   0.000     .1261954    .2058211
         dummy2_81 |    .137538   .0179644     7.66   0.000     .0979986    .1770774
         dummy2_82 |   .1851761   .0191166     9.69   0.000     .1431008    .2272513
         dummy2_83 |   .1544221   .0192339     8.03   0.000     .1120886    .1967557
         dummy2_84 |   .1521624   .0185668     8.20   0.000     .1112971    .1930276
         dummy2_85 |   .1729007   .0189865     9.11   0.000     .1311117    .2146898
         dummy2_86 |   .2102065   .0190182    11.05   0.000     .1683476    .2520653
         dummy2_87 |   .1274705   .0192165     6.63   0.000     .0851753    .1697657
         dummy2_88 |   .0868697   .0188739     4.60   0.001     .0453284    .1284109
         dummy2_89 |   .2176303   .0179122    12.15   0.000     .1782059    .2570547
         dummy2_90 |   .0794738   .0382345     2.08   0.062    -.0046798    .1636274
         dummy2_91 |   .1035624   .0134282     7.71   0.000     .0740071    .1331178
         dummy2_92 |   .1904013   .0111953    17.01   0.000     .1657605    .2150421
         dummy2_93 |   .1813983   .0123338    14.71   0.000     .1542517    .2085449
         dummy2_94 |   .1853858   .0119601    15.50   0.000     .1590618    .2117098
         dummy2_95 |   .3679635   .0116295    31.64   0.000     .3423672    .3935598
         dummy2_96 |   .1380417   .0117256    11.77   0.000     .1122339    .1638496
         dummy2_97 |   .2118201   .0112888    18.76   0.000     .1869735    .2366667
         dummy2_98 |    .104856   .0136737     7.67   0.000     .0747604    .1349516
         dummy2_99 |   .0468886   .0114257     4.10   0.002     .0217408    .0720364
        dummy2_100 |   .2234146   .0142202    15.71   0.000     .1921162     .254713
        dummy2_101 |   .1086952    .015656     6.94   0.000     .0742365    .1431539
        dummy2_102 |  -.0644138   .0122282    -5.27   0.000    -.0913279   -.0374997
        dummy2_103 |    .250405   .0115197    21.74   0.000     .2250502    .2757597
        dummy2_104 |   .1530617   .0158773     9.64   0.000     .1181161    .1880073
        dummy2_105 |   .1784809   .0179756     9.93   0.000      .138917    .2180449
        dummy2_106 |    .136909   .0172056     7.96   0.000     .0990397    .1747783
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .2066539   .0163519    12.64   0.000     .1706637    .2426441
        dummy2_110 |          0  (omitted)
        dummy2_111 |   .1746138   .0166889    10.46   0.000     .1378818    .2113459
        dummy2_112 |   .1179038   .0117169    10.06   0.000      .092115    .1436926
        dummy2_113 |   .1422001   .0150904     9.42   0.000     .1089865    .1754138
        dummy2_114 |   .1410411   .0159624     8.84   0.000     .1059081     .176174
        dummy2_115 |   .1787817   .0160695    11.13   0.000      .143413    .2141504
        dummy2_116 |   .1516872   .0161435     9.40   0.000     .1161558    .1872187
        dummy2_117 |   .0913151   .0150636     6.06   0.000     .0581604    .1244698
        dummy2_118 |   .1468097   .0130842    11.22   0.000     .1180116    .1756078
        dummy2_119 |   .1600783   .0161148     9.93   0.000     .1246098    .1955469
        dummy2_120 |   .1668486   .0168735     9.89   0.000     .1297102    .2039869
        dummy2_121 |   .1576952   .0156308    10.09   0.000     .1232921    .1920983
        dummy2_122 |    .148042   .0157269     9.41   0.000     .1134274    .1826566
        dummy2_123 |   .1303206   .0147326     8.85   0.000     .0978944    .1627468
        dummy2_124 |   .1208203   .0128039     9.44   0.000      .092639    .1490015
        dummy2_125 |   .1644637   .0167078     9.84   0.000     .1276901    .2012373
        dummy2_126 |   .1703305   .0169503    10.05   0.000     .1330231    .2076379
        dummy2_127 |   .1525227   .0175929     8.67   0.000      .113801    .1912444
        dummy2_128 |   .1506668   .0171085     8.81   0.000     .1130113    .1883223
        dummy2_129 |   .1666582   .0178961     9.31   0.000     .1272692    .2060472
        dummy2_130 |   .2358606   .0178697    13.20   0.000     .1965297    .2751916
        dummy2_131 |   .1788112   .0166686    10.73   0.000      .142124    .2154985
        dummy2_132 |   .1736017     .01755     9.89   0.000     .1349745     .212229
        dummy2_133 |   .1163669   .0172054     6.76   0.000      .078498    .1542358
        dummy2_134 |   .0133155   .0448801     0.30   0.772    -.0854649    .1120959
        dummy2_135 |   .0532531   .0120729     4.41   0.001     .0266809    .0798253
        dummy2_136 |   .0930788   .0177438     5.25   0.000      .054025    .1321326
        dummy2_137 |   .1240123   .0188149     6.59   0.000     .0826009    .1654236
        dummy2_138 |   .1053461   .0159923     6.59   0.000     .0701474    .1405448
        dummy2_139 |          0  (omitted)
        dummy2_140 |   .0905035    .016066     5.63   0.000     .0551426    .1258645
        dummy2_141 |   .1505958   .0182595     8.25   0.000     .1104068    .1907847
        dummy2_142 |   .1382888   .0190683     7.25   0.000     .0963197    .1802578
        dummy2_143 |    .100392   .0134961     7.44   0.000     .0706873    .1300967
        dummy2_144 |   .1067678   .0144761     7.38   0.000      .074906    .1386295
        dummy2_145 |   .0956757   .0109037     8.77   0.000     .0716767    .1196747
        dummy2_146 |   .1148905   .0149108     7.71   0.000      .082072    .1477089
        dummy2_147 |   .1415557   .0187043     7.57   0.000     .1003877    .1827236
        dummy2_148 |   .1158803   .0149285     7.76   0.000     .0830229    .1487378
        dummy2_149 |  -.0066503   .0021854    -3.04   0.011    -.0114604   -.0018402
        dummy2_150 |   .0867456   .0123786     7.01   0.000     .0595005    .1139907
        dummy2_151 |   .0645736    .008837     7.31   0.000     .0451236    .0840237
        dummy2_152 |   .1228811   .0147464     8.33   0.000     .0904246    .1553376
        dummy2_153 |  -.0056376   .0075827    -0.74   0.473     -.022327    .0110518
        dummy2_154 |          0  (omitted)
        dummy2_155 |   .1185152   .0192133     6.17   0.000      .076227    .1608035
        dummy2_156 |   .1541992   .0219526     7.02   0.000     .1058819    .2025165
        dummy2_157 |   .1451639   .0176476     8.23   0.000     .1063218    .1840059
        dummy2_158 |   .0669636   .0246628     2.72   0.020     .0126812    .1212461
        dummy2_159 |   .1010738   .0175633     5.75   0.000     .0624172    .1397305
        dummy2_160 |   .1449068   .0184972     7.83   0.000     .1041948    .1856188
        dummy2_161 |   .2451197   .0170629    14.37   0.000     .2075646    .2826748
        dummy2_162 |   .1538176   .0178065     8.64   0.000     .1146257    .1930094
        dummy2_163 |   .1165665   .0171245     6.81   0.000     .0788757    .1542573
        dummy2_164 |   .1438118   .0186444     7.71   0.000     .1027756    .1848479
        dummy2_165 |   .1376224   .0178907     7.69   0.000     .0982452    .1769995
        dummy2_166 |   .1399337    .017528     7.98   0.000     .1013549    .1785125
        dummy2_167 |  -.0017346   .0403706    -0.04   0.966    -.0905898    .0871206
        dummy2_168 |   .1021866   .0206248     4.95   0.000     .0567917    .1475816
        dummy2_169 |   .1379855   .0187502     7.36   0.000     .0967165    .1792544
        dummy2_170 |   .1809927   .0200778     9.01   0.000     .1368017    .2251837
        dummy2_171 |   .1329656   .0195249     6.81   0.000     .0899916    .1759396
        dummy2_172 |   .1308154     .01912     6.84   0.000     .0887326    .1728983
        dummy2_173 |   .1480572   .0196104     7.55   0.000     .1048951    .1912193
        dummy2_174 |   .2203568   .0207105    10.64   0.000     .1747734    .2659403
        dummy2_175 |   .1472129   .0193082     7.62   0.000     .1047158      .18971
        dummy2_176 |   .1322602   .0192706     6.86   0.000     .0898457    .1746746
        dummy2_177 |   .1551696   .0170089     9.12   0.000     .1177333    .1926059
        dummy2_178 |    .031504   .0316056     1.00   0.340    -.0380595    .1010675
        dummy2_179 |   .1785799    .013688    13.05   0.000     .1484527    .2087071
        dummy2_180 |   .1583492    .013371    11.84   0.000     .1289199    .1877786
        dummy2_181 |   .1252819   .0146761     8.54   0.000       .09298    .1575839
        dummy2_182 |   .1759923    .014916    11.80   0.000     .1431624    .2088221
        dummy2_183 |   .1242587   .0117374    10.59   0.000     .0984248    .1500925
        dummy2_184 |   .1320959    .013376     9.88   0.000     .1026554    .1615363
        dummy2_185 |    .162477   .0141365    11.49   0.000     .1313627    .1935912
        dummy2_186 |   .1626504   .0154159    10.55   0.000     .1287201    .1965806
        dummy2_187 |   .1700281    .014663    11.60   0.000     .1377551    .2023011
        dummy2_188 |   .1364552   .0125467    10.88   0.000     .1088401    .1640702
        dummy2_189 |    .134153   .0136998     9.79   0.000         .104     .164306
        dummy2_190 |   .1055332      .0128     8.24   0.000     .0773606    .1337058
        dummy2_191 |   .1439014    .015183     9.48   0.000     .1104837     .177319
        dummy2_192 |   .1903086   .0172391    11.04   0.000     .1523656    .2282517
        dummy2_193 |   .1453371   .0163968     8.86   0.000      .109248    .1814262
        dummy2_194 |   .1338995   .0159063     8.42   0.000       .09889    .1689089
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |   .2121033    .015479    13.70   0.000     .1780342    .2461724
        dummy2_198 |   .1512934    .015998     9.46   0.000     .1160822    .1865047
        dummy2_199 |   .1474314   .0195226     7.55   0.000     .1044625    .1904004
        dummy2_200 |   .0383076   .0253221     1.51   0.159     -.017426    .0940411
        dummy2_201 |   .1118205   .0177992     6.28   0.000     .0726447    .1509962
        dummy2_202 |   .0487479   .0239585     2.03   0.067    -.0039843    .1014801
        dummy2_203 |   .1682157   .0189971     8.85   0.000     .1264034     .210028
        dummy2_204 |     .13611   .0190749     7.14   0.000     .0941265    .1780934
        dummy2_205 |    .089711   .0156653     5.73   0.000     .0552319    .1241901
        dummy2_206 |   .1098193   .0172866     6.35   0.000     .0717719    .1478668
        dummy2_207 |   .1218555   .0173717     7.01   0.000     .0836205    .1600904
        dummy2_208 |   .1417295   .0185194     7.65   0.000     .1009685    .1824905
        dummy2_209 |   .1071955   .0179276     5.98   0.000      .067737    .1466539
        dummy2_210 |   .1343196   .0177364     7.57   0.000      .095282    .1733572
        dummy2_211 |   .2186583   .0187184    11.68   0.000     .1774593    .2598573
        dummy2_212 |   .1415109    .018184     7.78   0.000     .1014882    .1815337
        dummy2_213 |   .1698931     .01822     9.32   0.000     .1297912     .209995
        dummy2_214 |   .1211132   .0193674     6.25   0.000     .0784858    .1637406
        dummy2_215 |   .1290084   .0194407     6.64   0.000     .0862198     .171797
        dummy2_216 |    .146272    .018922     7.73   0.000      .104625     .187919
        dummy2_217 |    .131364   .0193273     6.80   0.000     .0888249    .1739031
        dummy2_218 |   .1689568   .0192445     8.78   0.000     .1265999    .2113136
        dummy2_219 |   .1206443   .0188901     6.39   0.000     .0790676     .162221
        dummy2_220 |   .1217258   .0191333     6.36   0.000     .0796136     .163838
        dummy2_221 |   .1446808   .0294417     4.91   0.000       .07988    .2094815
        dummy2_222 |   .1081687   .0290321     3.73   0.003     .0442696    .1720678
        dummy2_223 |   .1270913   .0277917     4.57   0.001     .0659222    .1882603
        dummy2_224 |   .1281488    .028287     4.53   0.001     .0658895    .1904081
        dummy2_225 |   .1192738   .0278354     4.28   0.001     .0580084    .1805391
        dummy2_226 |   .1357584   .0281968     4.81   0.001     .0736976    .1978192
        dummy2_227 |   .1083445    .027829     3.89   0.003     .0470932    .1695958
        dummy2_228 |   .1270057   .0287389     4.42   0.001     .0637519    .1902596
        dummy2_229 |   .1300311   .0280451     4.64   0.001     .0683042     .191758
        dummy2_230 |    .159338   .0287289     5.55   0.000     .0961062    .2225698
        dummy2_231 |   .1508369   .0278678     5.41   0.000     .0895002    .2121735
        dummy2_232 |   .1416312   .0278162     5.09   0.000     .0804083    .2028542
        dummy2_233 |   .1189374   .0300059     3.96   0.002     .0528948      .18498
        dummy2_234 |    .121276   .0286231     4.24   0.001     .0582769     .184275
        dummy2_235 |    .121776   .0282472     4.31   0.001     .0596043    .1839476
        dummy2_236 |   .1469001   .0290796     5.05   0.000     .0828962    .2109039
        dummy2_237 |   .1464857   .0287792     5.09   0.000     .0831432    .2098283
        dummy2_238 |   .1379881   .0282881     4.88   0.000     .0757265    .2002497
        dummy2_239 |   .1618714   .0284085     5.70   0.000     .0993447    .2243981
        dummy2_240 |   .1929554   .0285634     6.76   0.000     .1300878     .255823
        dummy2_241 |   .1436295   .0299076     4.80   0.001     .0778034    .2094556
        dummy2_242 |   .1386272   .0282882     4.90   0.000     .0763654    .2008891
        dummy2_243 |    .147288   .0252556     5.83   0.000     .0917008    .2028753
        dummy2_244 |   .0747424   .0254352     2.94   0.013     .0187599    .1307249
        dummy2_245 |   .1390397   .0239989     5.79   0.000     .0862184     .191861
        dummy2_246 |   .1532387   .0237591     6.45   0.000     .1009452    .2055321
        dummy2_247 |   .1288301   .0241117     5.34   0.000     .0757606    .1818995
        dummy2_248 |   .1535737   .0242533     6.33   0.000     .1001925    .2069549
        dummy2_249 |   .2000044   .0250879     7.97   0.000     .1447863    .2552225
        dummy2_250 |   .1219298   .0252331     4.83   0.001      .066392    .1774676
        dummy2_251 |   .1546867   .0240225     6.44   0.000     .1018136    .2075599
        dummy2_252 |   .1453897    .024517     5.93   0.000     .0914282    .1993512
        dummy2_253 |   .1533391   .0238745     6.42   0.000     .1007916    .2058865
        dummy2_254 |     .15044   .0238608     6.30   0.000     .0979227    .2029573
        dummy2_255 |    .241401   .0252546     9.56   0.000      .185816     .296986
        dummy2_256 |   .1679321   .0242085     6.94   0.000     .1146495    .2212146
        dummy2_257 |   .1536345   .0238808     6.43   0.000     .1010733    .2061958
        dummy2_258 |   .1283202   .0253713     5.06   0.000     .0724784    .1841621
        dummy2_259 |   .1051752   .0244687     4.30   0.001     .0513201    .1590304
        dummy2_260 |   .1268608      .0242     5.24   0.000      .073597    .1801246
        dummy2_261 |   .1395338   .0241713     5.77   0.000     .0863332    .1927345
        dummy2_262 |   .1426985   .0243332     5.86   0.000     .0891416    .1962554
        dummy2_263 |   .1167364   .0266917     4.37   0.001     .0579883    .1754845
        dummy2_264 |   .1140179   .0239777     4.76   0.001     .0612434    .1667924
             _cons |   -.142965   .0587778    -2.43   0.033     -.272334    -.013596
------------------------------------------------------------------------------------

. eststo table3_4

. 
. esttab table3_1 table3_2 table3_3 table3_4 using "BCDVS_95_4_2013tables.csv", append label  nodepvar star(* 0.10 ** 0.05 *
> ** 0.01) se r2 drop(y_* dummy*) compress csv
(output written to BCDVS_95_4_2013tables.csv)

. 
. 
. ******************************************************************************
. *******************          IV regressions (table 4)            *************
. *******************     poltical variables as instruments        *************
. ******************************************************************************
. 
. 
. ivreg2 tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.pmr  y_*  dummy*  ( l.compindex = l
> .per108 l.per403 l.per404 l.per505)  if tfpcorrectedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & 
> pcmpoolklems<3, first
Warning - collinearities detected
Vars dropped:       y_1 y_11 dummy2_46 dummy2_49 dummy2_107 dummy2_108
                    dummy2_110 dummy2_139 dummy2_195 dummy2_196 dummy2_264

First-stage regressions
-----------------------

First-stage regression of L.compindex:

OLS estimation
--------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1847
                                                      F(273,  1573) =    40.14
                                                      Prob > F      =   0.0000
Total (centered) SS     =  20.52121747                Centered R2   =   0.8745
Total (uncentered) SS   =  459.7724675                Uncentered R2 =   0.9944
Residual SS             =  2.576128937                Root MSE      =   .04047

------------------------------------------------------------------------------------
       L.compindex |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0114431   .0127552     0.90   0.370    -.0135759    .0364621
                   |
     tecnogapklems |
               L1. |   .0008459   .0027528     0.31   0.759    -.0045536    .0062454
                   |
         ind_trend |  -.0192019   .0163093    -1.18   0.239    -.0511921    .0127883
                   |
          tradelib |
               L1. |  -.0023431    .002479    -0.95   0.345    -.0072057    .0025194
                   |
               pmr |
               L1. |   .0752357   .0104431     7.20   0.000      .054752    .0957195
                   |
               y_2 |  -.1201236   .0074548   -16.11   0.000     -.134746   -.1055011
               y_3 |  -.1022988   .0077092   -13.27   0.000    -.1174203   -.0871773
               y_4 |  -.1070646   .0078305   -13.67   0.000    -.1224239   -.0917052
               y_5 |  -.1188867   .0074419   -15.98   0.000    -.1334838   -.1042897
               y_6 |  -.1066197   .0056569   -18.85   0.000    -.1177155   -.0955239
               y_7 |  -.0796474   .0054843   -14.52   0.000    -.0904046   -.0688902
               y_8 |  -.0617904   .0052906   -11.68   0.000    -.0721678    -.051413
               y_9 |   -.039887   .0052294    -7.63   0.000    -.0501443   -.0296297
              y_10 |  -.0112306     .00443    -2.54   0.011    -.0199199   -.0025413
          dummy2_1 |   -.036223   .0268528    -1.35   0.178    -.0888941     .016448
          dummy2_2 |  -.0363875   .0270665    -1.34   0.179    -.0894777    .0167027
          dummy2_3 |  -.0338454   .0267634    -1.26   0.206    -.0863412    .0186503
          dummy2_4 |  -.0317477   .0271509    -1.17   0.242    -.0850034     .021508
          dummy2_5 |  -.0350908   .0267375    -1.31   0.190    -.0875357    .0173542
          dummy2_6 |  -.0348465   .0268184    -1.30   0.194      -.08745     .017757
          dummy2_7 |  -.0319709   .0274336    -1.17   0.244    -.0857812    .0218394
          dummy2_8 |   -.030795   .0274487    -1.12   0.262     -.084635     .023045
          dummy2_9 |  -.0328076   .0269172    -1.22   0.223     -.085605    .0199898
         dummy2_10 |  -.0336731   .0268591    -1.25   0.210    -.0863566    .0190103
         dummy2_11 |  -.0330976   .0268713    -1.23   0.218    -.0858049    .0196098
         dummy2_12 |  -.0281604   .0277797    -1.01   0.311    -.0826496    .0263288
         dummy2_13 |  -.0148494    .034902    -0.43   0.671    -.0833088      .05361
         dummy2_14 |  -.0326301   .0320926    -1.02   0.309     -.095579    .0303187
         dummy2_15 |   -.033032   .0268779    -1.23   0.219    -.0857523    .0196883
         dummy2_16 |  -.0362714   .0268089    -1.35   0.176    -.0888565    .0163136
         dummy2_17 |  -.0356863   .0267855    -1.33   0.183    -.0882254    .0168529
         dummy2_18 |  -.0357669   .0269277    -1.33   0.184    -.0885848     .017051
         dummy2_19 |  -.0356583   .0267639    -1.33   0.183     -.088155    .0168384
         dummy2_20 |  -.0366217   .0268131    -1.37   0.172    -.0892149    .0159715
         dummy2_21 |  -.0363307   .0273209    -1.33   0.184    -.0899199    .0172584
         dummy2_22 |  -.0355528   .0268776    -1.32   0.186    -.0882726    .0171669
         dummy2_23 |   -.278573   .0242685   -11.48   0.000     -.326175    -.230971
         dummy2_24 |  -.2737632    .025301   -10.82   0.000    -.3233904   -.2241361
         dummy2_25 |  -.2768811   .0242425   -11.42   0.000     -.324432   -.2293302
         dummy2_26 |  -.2749453   .0248768   -11.05   0.000    -.3237405     -.22615
         dummy2_27 |  -.2779497   .0243056   -11.44   0.000    -.3256245   -.2302748
         dummy2_28 |    -.27671   .0248332   -11.14   0.000    -.3254196   -.2280004
         dummy2_29 |  -.2531008   .0290995    -8.70   0.000    -.3101787   -.1960229
         dummy2_30 |  -.2712107   .0255366   -10.62   0.000       -.3213   -.2211213
         dummy2_31 |  -.2604295   .0252521   -10.31   0.000    -.3099608   -.2108982
         dummy2_32 |  -.2779773   .0243224   -11.43   0.000    -.3256851   -.2302696
         dummy2_33 |  -.2753328   .0244932   -11.24   0.000    -.3233756   -.2272901
         dummy2_34 |   -.275711   .0245733   -11.22   0.000    -.3239109    -.227511
         dummy2_35 |  -.2583665   .0264864    -9.75   0.000    -.3103189   -.2064142
         dummy2_36 |  -.2633197   .0264705    -9.95   0.000    -.3152408   -.2113985
         dummy2_37 |  -.2768388   .0244526   -11.32   0.000    -.3248019   -.2288757
         dummy2_38 |  -.2815218   .0250682   -11.23   0.000    -.3306924   -.2323512
         dummy2_39 |  -.2788074   .0242626   -11.49   0.000    -.3263978   -.2312171
         dummy2_40 |   -.278449   .0242491   -11.48   0.000    -.3260129   -.2308851
         dummy2_41 |   -.277966   .0241186   -11.52   0.000    -.3252741   -.2306579
         dummy2_42 |  -.2812037   .0247892   -11.34   0.000     -.329827   -.2325804
         dummy2_43 |  -.2815872   .0250484   -11.24   0.000    -.3307189   -.2324555
         dummy2_44 |  -.2782421    .024209   -11.49   0.000    -.3257273   -.2307569
         dummy2_45 |  -.4079055   .0355997   -11.46   0.000    -.4777335   -.3380776
         dummy2_47 |  -.4051317      .0356   -11.38   0.000    -.4749602   -.3353033
         dummy2_48 |  -.3835733   .0316268   -12.13   0.000    -.4456083   -.3215382
         dummy2_50 |  -.3877114   .0311126   -12.46   0.000     -.448738   -.3266848
         dummy2_51 |  -.4025108   .0458395    -8.78   0.000    -.4924237   -.3125979
         dummy2_52 |  -.4032407   .0358832   -11.24   0.000    -.4736245   -.3328568
         dummy2_53 |  -.4045252    .035574   -11.37   0.000    -.4743028   -.3347477
         dummy2_54 |  -.4056396   .0355571   -11.41   0.000    -.4753838   -.3358954
         dummy2_55 |   -.404907    .035564   -11.39   0.000    -.4746649   -.3351492
         dummy2_56 |  -.4027314   .0357073   -11.28   0.000    -.4727702   -.3326926
         dummy2_57 |  -.3849079   .0314691   -12.23   0.000    -.4466338    -.323182
         dummy2_58 |  -.3844138   .0314988   -12.20   0.000    -.4461979   -.3226298
         dummy2_59 |  -.4044313   .0356363   -11.35   0.000     -.474331   -.3345316
         dummy2_60 |    -.40824   .0356193   -11.46   0.000    -.4781062   -.3383737
         dummy2_61 |  -.4070558   .0355349   -11.46   0.000    -.4767566   -.3373551
         dummy2_62 |  -.4062419   .0355386   -11.43   0.000      -.47595   -.3365339
         dummy2_63 |  -.4065262    .035528   -11.44   0.000    -.4762134   -.3368391
         dummy2_64 |  -.4079859   .0355711   -11.47   0.000    -.4777577    -.338214
         dummy2_65 |  -.4072858    .035648   -11.43   0.000    -.4772085   -.3373631
         dummy2_66 |  -.3887398    .031074   -12.51   0.000    -.4496907   -.3277889
         dummy2_67 |  -.1889059   .0210521    -8.97   0.000    -.2301991   -.1476128
         dummy2_68 |   -.177613   .0248649    -7.14   0.000    -.2263849   -.1288411
         dummy2_69 |   -.188209   .0210582    -8.94   0.000    -.2295142   -.1469039
         dummy2_70 |  -.1818268    .022526    -8.07   0.000    -.2260108   -.1376427
         dummy2_71 |  -.1880931    .020943    -8.98   0.000    -.2291723   -.1470139
         dummy2_72 |  -.1885555   .0209288    -9.01   0.000    -.2296069   -.1475042
         dummy2_73 |  -.2094095   .0273769    -7.65   0.000    -.2631085   -.1557105
         dummy2_74 |  -.1877836   .0213654    -8.79   0.000    -.2296912   -.1458759
         dummy2_75 |  -.1880225   .0209402    -8.98   0.000    -.2290962   -.1469489
         dummy2_76 |  -.1889762   .0209363    -9.03   0.000    -.2300422   -.1479101
         dummy2_77 |  -.1878915   .0209415    -8.97   0.000    -.2289676   -.1468153
         dummy2_78 |   -.188189   .0209316    -8.99   0.000    -.2292458   -.1471323
         dummy2_79 |  -.1874795   .0212329    -8.83   0.000    -.2291273   -.1458316
         dummy2_80 |  -.1879724   .0215692    -8.71   0.000    -.2302797    -.145665
         dummy2_81 |  -.1874103   .0210405    -8.91   0.000    -.2286806   -.1461401
         dummy2_82 |  -.1903348   .0211559    -9.00   0.000    -.2318315   -.1488381
         dummy2_83 |  -.1895468   .0209044    -9.07   0.000    -.2305502   -.1485434
         dummy2_84 |  -.1894822   .0209756    -9.03   0.000    -.2306252   -.1483393
         dummy2_85 |  -.1893154   .0208988    -9.06   0.000    -.2303079   -.1483229
         dummy2_86 |  -.1893415   .0208992    -9.06   0.000    -.2303347   -.1483482
         dummy2_87 |  -.1904878   .0215787    -8.83   0.000    -.2328138   -.1481618
         dummy2_88 |  -.1890517   .0208927    -9.05   0.000    -.2300322   -.1480712
         dummy2_89 |  -.1946439   .0235942    -8.25   0.000    -.2409233   -.1483645
         dummy2_90 |  -.1682212   .0377707    -4.45   0.000    -.2423075   -.0941349
         dummy2_91 |  -.1873296   .0341716    -5.48   0.000    -.2543562    -.120303
         dummy2_92 |  -.1829602     .03492    -5.24   0.000    -.2514548   -.1144655
         dummy2_93 |  -.1864842   .0342779    -5.44   0.000    -.2537193   -.1192491
         dummy2_94 |  -.1847108    .034364    -5.38   0.000    -.2521148   -.1173068
         dummy2_95 |  -.1963071    .044764    -4.39   0.000    -.2841104   -.1085037
         dummy2_96 |  -.1826434    .034933    -5.23   0.000    -.2511635   -.1141233
         dummy2_97 |  -.1818923   .0349185    -5.21   0.000     -.250384   -.1134007
         dummy2_98 |  -.1865536   .0341872    -5.46   0.000    -.2536109   -.1194963
         dummy2_99 |  -.1825071   .0347504    -5.25   0.000     -.250669   -.1143452
        dummy2_100 |   -.177393   .0361633    -4.91   0.000    -.2483264   -.1064596
        dummy2_101 |  -.1771235   .0363419    -4.87   0.000    -.2484072   -.1058399
        dummy2_102 |  -.1809325   .0350062    -5.17   0.000    -.2495962   -.1122689
        dummy2_103 |  -.1849067    .034596    -5.34   0.000    -.2527659   -.1170475
        dummy2_104 |  -.1917593   .0259865    -7.38   0.000    -.2427311   -.1407875
        dummy2_105 |  -.1945322   .0235573    -8.26   0.000    -.2407393   -.1483251
        dummy2_106 |  -.1948438   .0235764    -8.26   0.000    -.2410883   -.1485993
        dummy2_109 |  -.1961654   .0241591    -8.12   0.000    -.2435529    -.148778
        dummy2_111 |  -.2885463   .0220554   -13.08   0.000    -.3318074   -.2452852
        dummy2_112 |  -.2809572   .0231573   -12.13   0.000    -.3263797   -.2355347
        dummy2_113 |  -.2866394   .0220964   -12.97   0.000    -.3299809   -.2432979
        dummy2_114 |  -.2874902   .0220148   -13.06   0.000    -.3306716   -.2443087
        dummy2_115 |  -.2872404   .0219607   -13.08   0.000    -.3303156   -.2441651
        dummy2_116 |  -.2871788   .0219444   -13.09   0.000     -.330222   -.2441355
        dummy2_117 |  -.2884569   .0242968   -11.87   0.000    -.3361145   -.2407993
        dummy2_118 |   -.284819   .0227868   -12.50   0.000    -.3295146   -.2401233
        dummy2_119 |  -.2871906   .0219517   -13.08   0.000    -.3302483   -.2441328
        dummy2_120 |  -.2882809   .0219803   -13.12   0.000    -.3313948   -.2451671
        dummy2_121 |  -.2869394   .0220088   -13.04   0.000    -.3301091   -.2437698
        dummy2_122 |  -.2870077   .0219941   -13.05   0.000    -.3301486   -.2438668
        dummy2_123 |  -.2861362   .0222929   -12.84   0.000    -.3298632   -.2424093
        dummy2_124 |  -.2854906   .0231208   -12.35   0.000    -.3308413   -.2401398
        dummy2_125 |  -.2879721   .0219528   -13.12   0.000    -.3310319   -.2449123
        dummy2_126 |    -.28872   .0221197   -13.05   0.000    -.3321072   -.2453328
        dummy2_127 |   -.288367   .0219041   -13.17   0.000    -.3313312   -.2454028
        dummy2_128 |  -.2881208   .0220062   -13.09   0.000    -.3312855   -.2449562
        dummy2_129 |  -.2879054   .0218296   -13.19   0.000    -.3307236   -.2450872
        dummy2_130 |  -.2879398   .0218345   -13.19   0.000    -.3307675    -.245112
        dummy2_131 |  -.2886379   .0223735   -12.90   0.000     -.332523   -.2447529
        dummy2_132 |   -.287933   .0218812   -13.16   0.000    -.3308523   -.2450136
        dummy2_133 |  -.2636583   .0233766   -11.28   0.000    -.3095108   -.2178058
        dummy2_134 |  -.2480018   .0365295    -6.79   0.000    -.3196534   -.1763501
        dummy2_135 |  -.2486324   .0313121    -7.94   0.000    -.3100503   -.1872145
        dummy2_136 |  -.2674213   .0208038   -12.85   0.000    -.3082273   -.2266152
        dummy2_137 |  -.2735659    .019725   -13.87   0.000     -.312256   -.2348759
        dummy2_138 |  -.2615305   .0239364   -10.93   0.000    -.3084812   -.2145798
        dummy2_140 |  -.2607834   .0248387   -10.50   0.000    -.3095039    -.212063
        dummy2_141 |  -.2694788   .0207897   -12.96   0.000    -.3102572   -.2287003
        dummy2_142 |   -.271422   .0203365   -13.35   0.000    -.3113115   -.2315326
        dummy2_143 |  -.2531461   .0284015    -8.91   0.000    -.3088548   -.1974374
        dummy2_144 |  -.2568616   .0260346    -9.87   0.000    -.3079279   -.2057954
        dummy2_145 |  -.2385838   .0383437    -6.22   0.000    -.3137938   -.1633737
        dummy2_146 |  -.2567012   .0273617    -9.38   0.000    -.3103705   -.2030319
        dummy2_147 |  -.2714918   .0201104   -13.50   0.000    -.3109379   -.2320457
        dummy2_148 |  -.2564932   .0273036    -9.39   0.000    -.3100484   -.2029379
        dummy2_149 |  -.2092177   .0613278    -3.41   0.001    -.3295104   -.0889249
        dummy2_150 |  -.2492278    .031332    -7.95   0.000    -.3106846    -.187771
        dummy2_151 |  -.2350564   .0408985    -5.75   0.000    -.3152776   -.1548352
        dummy2_152 |  -.2570497   .0262699    -9.78   0.000    -.3085774    -.205522
        dummy2_153 |   -.222108   .0520847    -4.26   0.000    -.3242707   -.1199452
        dummy2_154 |  -.2049316   .0647069    -3.17   0.002    -.3318525   -.0780107
        dummy2_155 |  -.1488227   .0212211    -7.01   0.000    -.1904473   -.1071982
        dummy2_156 |  -.1825245   .0429562    -4.25   0.000     -.266782   -.0982671
        dummy2_157 |  -.1467289   .0212455    -6.91   0.000    -.1884013   -.1050565
        dummy2_158 |  -.1345003   .0266646    -5.04   0.000    -.1868022   -.0821984
        dummy2_159 |  -.1453764   .0216099    -6.73   0.000    -.1877636   -.1029893
        dummy2_160 |  -.1479579     .02114    -7.00   0.000    -.1894234   -.1064923
        dummy2_161 |   -.146593   .0243019    -6.03   0.000    -.1942606   -.0989255
        dummy2_162 |  -.1452344   .0218085    -6.66   0.000    -.1880112   -.1024576
        dummy2_163 |   -.144069   .0218314    -6.60   0.000    -.1868907   -.1012472
        dummy2_164 |  -.1481685   .0211945    -6.99   0.000     -.189741   -.1065961
        dummy2_165 |  -.1463274   .0213787    -6.84   0.000    -.1882612   -.1043936
        dummy2_166 |  -.1449947   .0216691    -6.69   0.000    -.1874982   -.1024913
        dummy2_167 |  -.1274033   .0335582    -3.80   0.000    -.1932269   -.0615798
        dummy2_168 |  -.1359523   .0249783    -5.44   0.000    -.1849465    -.086958
        dummy2_169 |  -.1478736   .0211917    -6.98   0.000    -.1894406   -.1063066
        dummy2_170 |  -.1500618   .0210831    -7.12   0.000    -.1914158   -.1087078
        dummy2_171 |  -.1496817   .0210717    -7.10   0.000    -.1910133     -.10835
        dummy2_172 |  -.1494087   .0210776    -7.09   0.000     -.190752   -.1080655
        dummy2_173 |  -.1497888   .0210739    -7.11   0.000    -.1911247    -.108453
        dummy2_174 |  -.1505948   .0211033    -7.14   0.000    -.1919884   -.1092013
        dummy2_175 |  -.1502564   .0212559    -7.07   0.000    -.1919492   -.1085635
        dummy2_176 |   -.149598   .0210797    -7.10   0.000    -.1909453   -.1082508
        dummy2_177 |  -.3701466   .0343544   -10.77   0.000    -.4375318   -.3027615
        dummy2_178 |  -.3479767    .041303    -8.42   0.000    -.4289915   -.2669619
        dummy2_179 |  -.3675441   .0343664   -10.69   0.000    -.4349529   -.3001354
        dummy2_180 |  -.3667621    .034438   -10.65   0.000    -.4343113   -.2992129
        dummy2_181 |  -.3677052   .0343207   -10.71   0.000    -.4350244    -.300386
        dummy2_182 |  -.3679872   .0342987   -10.73   0.000    -.4352633   -.3007112
        dummy2_183 |  -.3649289   .0344735   -10.59   0.000    -.4325478   -.2973099
        dummy2_184 |  -.3661126   .0346902   -10.55   0.000    -.4341566   -.2980686
        dummy2_185 |  -.3667722   .0343425   -10.68   0.000     -.434134   -.2994103
        dummy2_186 |  -.3690855   .0343192   -10.75   0.000    -.4364017   -.3017693
        dummy2_187 |  -.3676143   .0343166   -10.71   0.000    -.4349253   -.3003032
        dummy2_188 |  -.3641341   .0345768   -10.53   0.000    -.4319556   -.2963126
        dummy2_189 |  -.3621034   .0351181   -10.31   0.000    -.4309866   -.2932202
        dummy2_190 |  -.3628708   .0349593   -10.38   0.000    -.4314425    -.294299
        dummy2_191 |  -.3683974   .0343258   -10.73   0.000    -.4357265   -.3010684
        dummy2_192 |  -.3700537   .0343141   -10.78   0.000    -.4373599   -.3027476
        dummy2_193 |  -.3696544   .0343039   -10.78   0.000    -.4369406   -.3023682
        dummy2_194 |  -.3683314   .0342866   -10.74   0.000    -.4355836   -.3010792
        dummy2_197 |  -.3691849   .0343195   -10.76   0.000    -.4365017    -.301868
        dummy2_198 |  -.3687202   .0342847   -10.75   0.000    -.4359686   -.3014717
        dummy2_199 |  -.0014435   .0195301    -0.07   0.941    -.0397513    .0368643
        dummy2_200 |   .0167344    .025959     0.64   0.519    -.0341836    .0676523
        dummy2_201 |   .0011578   .0195489     0.06   0.953    -.0371867    .0395024
        dummy2_202 |   .0132598    .025086     0.53   0.597    -.0359456    .0624652
        dummy2_203 |  -.0006553   .0194384    -0.03   0.973    -.0387832    .0374725
        dummy2_204 |  -.0005589   .0194279    -0.03   0.977    -.0386661    .0375484
        dummy2_205 |   .0098265   .0215071     0.46   0.648    -.0323591    .0520121
        dummy2_206 |   .0021075   .0196759     0.11   0.915    -.0364863    .0407013
        dummy2_207 |   .0024382   .0197998     0.12   0.902    -.0363985     .041275
        dummy2_208 |   .0005435   .0195634     0.03   0.978    -.0378297    .0389167
        dummy2_209 |   .0010666   .0195491     0.05   0.956    -.0372784    .0394116
        dummy2_210 |   .0014666   .0196311     0.07   0.940    -.0370393    .0399724
        dummy2_211 |   .0193205   .0231254     0.84   0.404    -.0260394    .0646804
        dummy2_212 |   .0012484   .0201999     0.06   0.951    -.0383733      .04087
        dummy2_213 |   .0008416   .0197464     0.04   0.966    -.0378904    .0395736
        dummy2_214 |  -.0013631    .019423    -0.07   0.944    -.0394608    .0367346
        dummy2_215 |  -.0015385   .0194332    -0.08   0.937    -.0396563    .0365793
        dummy2_216 |  -.0012709   .0194492    -0.07   0.948      -.03942    .0368782
        dummy2_217 |  -.0009629   .0194135    -0.05   0.960    -.0390419    .0371161
        dummy2_218 |  -.0014158   .0194301    -0.07   0.942    -.0395274    .0366959
        dummy2_219 |  -.0008047   .0194136    -0.04   0.967    -.0388839    .0372745
        dummy2_220 |  -.0005671    .019415    -0.03   0.977    -.0386492     .037515
        dummy2_221 |   -.175052   .0187945    -9.31   0.000    -.2119168   -.1381871
        dummy2_222 |  -.1753498   .0190301    -9.21   0.000    -.2126768   -.1380227
        dummy2_223 |  -.1737496   .0186713    -9.31   0.000     -.210373   -.1371263
        dummy2_224 |  -.1701397   .0195791    -8.69   0.000    -.2085435   -.1317358
        dummy2_225 |  -.1729003   .0188012    -9.20   0.000    -.2097783   -.1360223
        dummy2_226 |  -.1745268   .0186199    -9.37   0.000    -.2110492   -.1380043
        dummy2_227 |  -.1725007   .0193133    -8.93   0.000    -.2103832   -.1346182
        dummy2_228 |  -.1727444   .0192451    -8.98   0.000    -.2104932   -.1349955
        dummy2_229 |  -.1739196   .0186785    -9.31   0.000    -.2105569   -.1372822
        dummy2_230 |  -.1749189   .0186419    -9.38   0.000    -.2114845   -.1383533
        dummy2_231 |  -.1735456   .0187081    -9.28   0.000    -.2102412   -.1368501
        dummy2_232 |  -.1725532   .0188739    -9.14   0.000    -.2095739   -.1355325
        dummy2_233 |  -.1702657   .0199603    -8.53   0.000    -.2094172   -.1311141
        dummy2_234 |  -.1622005   .0199951    -8.11   0.000    -.2014203   -.1229807
        dummy2_235 |  -.1732049   .0188105    -9.21   0.000    -.2101012   -.1363087
        dummy2_236 |  -.1760992   .0187056    -9.41   0.000    -.2127898   -.1394086
        dummy2_237 |  -.1757377   .0186048    -9.45   0.000    -.2122304   -.1392449
        dummy2_238 |  -.1754242   .0186232    -9.42   0.000    -.2119531   -.1388953
        dummy2_239 |  -.1753526   .0185921    -9.43   0.000    -.2118206   -.1388847
        dummy2_240 |  -.1755856   .0186056    -9.44   0.000    -.2120801   -.1390912
        dummy2_241 |  -.1766721   .0193581    -9.13   0.000    -.2146425   -.1387017
        dummy2_242 |  -.1754069   .0185971    -9.43   0.000    -.2118846   -.1389293
        dummy2_243 |  -.0010343   .0181543    -0.06   0.955    -.0366434    .0345748
        dummy2_244 |   .0004436   .0190843     0.02   0.981    -.0369897     .037877
        dummy2_245 |   .0000809   .0181312     0.00   0.996     -.035483    .0356448
        dummy2_246 |   .0034901   .0186656     0.19   0.852    -.0331221    .0401022
        dummy2_247 |    .000454   .0181308     0.03   0.980     -.035109     .036017
        dummy2_248 |  -.0001439   .0181059    -0.01   0.994    -.0356581    .0353703
        dummy2_249 |   .0031735   .0241612     0.13   0.896     -.044218     .050565
        dummy2_250 |   -.000665   .0187498    -0.04   0.972    -.0374422    .0361122
        dummy2_251 |   .0003399    .018116     0.02   0.985     -.035194    .0358739
        dummy2_252 |  -.0000417   .0181267    -0.00   0.998    -.0355967    .0355133
        dummy2_253 |   .0005431   .0181244     0.03   0.976    -.0350075    .0360937
        dummy2_254 |   .0008165   .0181456     0.04   0.964    -.0347757    .0364086
        dummy2_255 |   .0006887   .0183805     0.04   0.970    -.0353642    .0367416
        dummy2_256 |  -.0016686   .0188056    -0.09   0.929    -.0385553    .0352182
        dummy2_257 |   .0018424   .0183069     0.10   0.920    -.0340661     .037751
        dummy2_258 |  -.0015604    .018524    -0.08   0.933    -.0378947    .0347739
        dummy2_259 |  -.0004134    .018104    -0.02   0.982     -.035924    .0350971
        dummy2_260 |   -.000519   .0182068    -0.03   0.977    -.0362312    .0351933
        dummy2_261 |   -.000068   .0181024    -0.00   0.997    -.0355755    .0354394
        dummy2_262 |  -.0005011   .0181258    -0.03   0.978    -.0360543    .0350521
        dummy2_263 |  -.0020709   .0195149    -0.11   0.916    -.0403488     .036207
                   |
            per108 |
               L1. |   .0129182   .0012534    10.31   0.000     .0104598    .0153767
                   |
            per403 |
               L1. |  -.0082942   .0014853    -5.58   0.000    -.0112075   -.0053808
                   |
            per404 |
               L1. |    .006025   .0029811     2.02   0.043     .0001778    .0118723
                   |
            per505 |
               L1. |   .0011087    .003982     0.28   0.781     -.006702    .0089194
                   |
             _cons |   .5813503   .0153145    37.96   0.000     .5513113    .6113893
------------------------------------------------------------------------------------
Included instruments: tfpleadershipklems L.tecnogapklems ind_trend L.tradelib
                      L.pmr y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10 dummy2_1
                      dummy2_2 dummy2_3 dummy2_4 dummy2_5 dummy2_6 dummy2_7
                      dummy2_8 dummy2_9 dummy2_10 dummy2_11 dummy2_12 dummy2_13
                      dummy2_14 dummy2_15 dummy2_16 dummy2_17 dummy2_18
                      dummy2_19 dummy2_20 dummy2_21 dummy2_22 dummy2_23
                      dummy2_24 dummy2_25 dummy2_26 dummy2_27 dummy2_28
                      dummy2_29 dummy2_30 dummy2_31 dummy2_32 dummy2_33
                      dummy2_34 dummy2_35 dummy2_36 dummy2_37 dummy2_38
                      dummy2_39 dummy2_40 dummy2_41 dummy2_42 dummy2_43
                      dummy2_44 dummy2_45 dummy2_47 dummy2_48 dummy2_50
                      dummy2_51 dummy2_52 dummy2_53 dummy2_54 dummy2_55
                      dummy2_56 dummy2_57 dummy2_58 dummy2_59 dummy2_60
                      dummy2_61 dummy2_62 dummy2_63 dummy2_64 dummy2_65
                      dummy2_66 dummy2_67 dummy2_68 dummy2_69 dummy2_70
                      dummy2_71 dummy2_72 dummy2_73 dummy2_74 dummy2_75
                      dummy2_76 dummy2_77 dummy2_78 dummy2_79 dummy2_80
                      dummy2_81 dummy2_82 dummy2_83 dummy2_84 dummy2_85
                      dummy2_86 dummy2_87 dummy2_88 dummy2_89 dummy2_90
                      dummy2_91 dummy2_92 dummy2_93 dummy2_94 dummy2_95
                      dummy2_96 dummy2_97 dummy2_98 dummy2_99 dummy2_100
                      dummy2_101 dummy2_102 dummy2_103 dummy2_104 dummy2_105
                      dummy2_106 dummy2_109 dummy2_111 dummy2_112 dummy2_113
                      dummy2_114 dummy2_115 dummy2_116 dummy2_117 dummy2_118
                      dummy2_119 dummy2_120 dummy2_121 dummy2_122 dummy2_123
                      dummy2_124 dummy2_125 dummy2_126 dummy2_127 dummy2_128
                      dummy2_129 dummy2_130 dummy2_131 dummy2_132 dummy2_133
                      dummy2_134 dummy2_135 dummy2_136 dummy2_137 dummy2_138
                      dummy2_140 dummy2_141 dummy2_142 dummy2_143 dummy2_144
                      dummy2_145 dummy2_146 dummy2_147 dummy2_148 dummy2_149
                      dummy2_150 dummy2_151 dummy2_152 dummy2_153 dummy2_154
                      dummy2_155 dummy2_156 dummy2_157 dummy2_158 dummy2_159
                      dummy2_160 dummy2_161 dummy2_162 dummy2_163 dummy2_164
                      dummy2_165 dummy2_166 dummy2_167 dummy2_168 dummy2_169
                      dummy2_170 dummy2_171 dummy2_172 dummy2_173 dummy2_174
                      dummy2_175 dummy2_176 dummy2_177 dummy2_178 dummy2_179
                      dummy2_180 dummy2_181 dummy2_182 dummy2_183 dummy2_184
                      dummy2_185 dummy2_186 dummy2_187 dummy2_188 dummy2_189
                      dummy2_190 dummy2_191 dummy2_192 dummy2_193 dummy2_194
                      dummy2_197 dummy2_198 dummy2_199 dummy2_200 dummy2_201
                      dummy2_202 dummy2_203 dummy2_204 dummy2_205 dummy2_206
                      dummy2_207 dummy2_208 dummy2_209 dummy2_210 dummy2_211
                      dummy2_212 dummy2_213 dummy2_214 dummy2_215 dummy2_216
                      dummy2_217 dummy2_218 dummy2_219 dummy2_220 dummy2_221
                      dummy2_222 dummy2_223 dummy2_224 dummy2_225 dummy2_226
                      dummy2_227 dummy2_228 dummy2_229 dummy2_230 dummy2_231
                      dummy2_232 dummy2_233 dummy2_234 dummy2_235 dummy2_236
                      dummy2_237 dummy2_238 dummy2_239 dummy2_240 dummy2_241
                      dummy2_242 dummy2_243 dummy2_244 dummy2_245 dummy2_246
                      dummy2_247 dummy2_248 dummy2_249 dummy2_250 dummy2_251
                      dummy2_252 dummy2_253 dummy2_254 dummy2_255 dummy2_256
                      dummy2_257 dummy2_258 dummy2_259 dummy2_260 dummy2_261
                      dummy2_262 dummy2_263 L.per108 L.per403 L.per404 L.per505
------------------------------------------------------------------------------
F test of excluded instruments:
  F(  4,  1573) =    51.00
  Prob > F      =   0.0000
Angrist-Pischke multivariate F test of excluded instruments:
  F(  4,  1573) =    51.00
  Prob > F      =   0.0000



Summary results for first-stage regressions
-------------------------------------------

                                           (Underid)            (Weak id)
Variable     | F(  4,  1573)  P-val | AP Chi-sq(  4) P-val | AP F(  4,  1573)
L.compindex  |      51.00    0.0000 |      239.55   0.0000 |       51.00

Stock-Yogo weak ID test critical values for single endogenous regressor:
                                    5% maximal IV relative bias    16.85
                                   10% maximal IV relative bias    10.27
                                   20% maximal IV relative bias     6.71
                                   30% maximal IV relative bias     5.34
                                   10% maximal IV size             24.58
                                   15% maximal IV size             13.96
                                   20% maximal IV size             10.26
                                   25% maximal IV size              8.31
Source: Stock-Yogo (2005).  Reproduced by permission.

Underidentification test
Ho: matrix of reduced form coefficients has rank=K1-1 (underidentified)
Ha: matrix has rank=K1 (identified)
Anderson canon. corr. LM statistic       Chi-sq(4)=212.04   P-val=0.0000

Weak identification test
Ho: equation is weakly identified
Cragg-Donald Wald F statistic                                      51.00

Stock-Yogo weak ID test critical values for K1=1 and L1=4:
                                    5% maximal IV relative bias    16.85
                                   10% maximal IV relative bias    10.27
                                   20% maximal IV relative bias     6.71
                                   30% maximal IV relative bias     5.34
                                   10% maximal IV size             24.58
                                   15% maximal IV size             13.96
                                   20% maximal IV size             10.26
                                   25% maximal IV size              8.31
Source: Stock-Yogo (2005).  Reproduced by permission.

Weak-instrument-robust inference
Tests of joint significance of endogenous regressors B1 in main equation
Ho: B1=0 and orthogonality conditions are valid
Anderson-Rubin Wald test           F(4,1573)=      1.58     P-val=0.1771
Anderson-Rubin Wald test           Chi-sq(4)=      7.42     P-val=0.1153
Stock-Wright LM S statistic        Chi-sq(4)=      7.39     P-val=0.1167

Number of observations               N  =       1847
Number of regressors                 K  =        271
Number of endogenous regressors      K1 =          1
Number of instruments                L  =        274
Number of excluded instruments       L1 =          4

IV (2SLS) estimation
--------------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1847
                                                      F(270,  1576) =     2.12
                                                      Prob > F      =   0.0000
Total (centered) SS     =  8.679659315                Centered R2   =   0.2631
Total (uncentered) SS   =  8.846870444                Uncentered R2 =   0.2770
Residual SS             =  6.396067298                Root MSE      =   .05885

------------------------------------------------------------------------------------
tfpcorrectedover~s |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
         compindex |
               L1. |   .2217139   .1018073     2.18   0.029     .0221753    .4212525
                   |
tfpleadershipklems |   .0637578   .0185779     3.43   0.001     .0273457    .1001698
                   |
     tecnogapklems |
               L1. |    .007362   .0040017     1.84   0.066    -.0004812    .0152053
                   |
         ind_trend |   .0485977   .0237478     2.05   0.041     .0020529    .0951425
                   |
          tradelib |
               L1. |   .0146379   .0036092     4.06   0.000      .007564    .0217117
                   |
               pmr |
               L1. |  -.0402407   .0137081    -2.94   0.003    -.0671082   -.0133732
                   |
               y_2 |   .0313661   .0161414     1.94   0.052    -.0002705    .0630027
               y_3 |   .0334684   .0145235     2.30   0.021     .0050029    .0619339
               y_4 |   .0099142   .0148295     0.67   0.504    -.0191512    .0389796
               y_5 |   .0363962   .0148386     2.45   0.014     .0073132    .0654793
               y_6 |   .0355606   .0121162     2.93   0.003     .0118133    .0593078
               y_7 |   .0026355   .0100124     0.26   0.792    -.0169885    .0222595
               y_8 |   .0047895   .0089746     0.53   0.594    -.0128004    .0223793
               y_9 |   .0057043   .0081133     0.70   0.482    -.0101974    .0216061
              y_10 |   .0114576   .0065428     1.75   0.080     -.001366    .0242812
          dummy2_1 |   .0166274   .0393143     0.42   0.672    -.0604272     .093682
          dummy2_2 |  -.0411098   .0396234    -1.04   0.299    -.1187702    .0365505
          dummy2_3 |   .0297228   .0391576     0.76   0.448    -.0470246    .1064703
          dummy2_4 |   .0015389    .039696     0.04   0.969    -.0762638    .0793417
          dummy2_5 |   .0237714   .0391341     0.61   0.544    -.0529301    .1004729
          dummy2_6 |   .0793763   .0392478     2.02   0.043     .0024521    .1563005
          dummy2_7 |   .0042074   .0401021     0.10   0.916    -.0743913    .0828061
          dummy2_8 |   .0239446   .0401152     0.60   0.551    -.0546797     .102569
          dummy2_9 |   .0007036   .0393689     0.02   0.986     -.076458    .0778651
         dummy2_10 |   .0223671   .0392947     0.57   0.569    -.0546491    .0993833
         dummy2_11 |   .0382647   .0393056     0.97   0.330    -.0387729    .1153022
         dummy2_12 |   .0029869   .0405702     0.07   0.941    -.0765293     .082503
         dummy2_13 |  -.0122482   .0508078    -0.24   0.810    -.1118297    .0873333
         dummy2_14 |  -.0072731   .0468481    -0.16   0.877    -.0990937    .0845476
         dummy2_15 |   .0264048   .0393149     0.67   0.502     -.050651    .1034607
         dummy2_16 |   .0094653   .0392507     0.24   0.809    -.0674647    .0863954
         dummy2_17 |   .0336322   .0392097     0.86   0.391    -.0432174    .1104817
         dummy2_18 |   .0306139   .0394152     0.78   0.437    -.0466385    .1078663
         dummy2_19 |   .0480217   .0391783     1.23   0.220    -.0287663    .1248097
         dummy2_20 |    .019942   .0392612     0.51   0.612    -.0570084    .0968925
         dummy2_21 |  -.0094062   .0399884    -0.24   0.814    -.0877821    .0689697
         dummy2_22 |   .0201126   .0393404     0.51   0.609    -.0569932    .0972185
         dummy2_23 |   .1388839   .0386536     3.59   0.000     .0631243    .2146435
         dummy2_24 |    .059713   .0397609     1.50   0.133    -.0182169     .137643
         dummy2_25 |   .0617721   .0385296     1.60   0.109    -.0137446    .1372887
         dummy2_26 |   .0972174   .0392675     2.48   0.013     .0202546    .1741802
         dummy2_27 |   .1223292   .0386678     3.16   0.002     .0465417    .1981168
         dummy2_28 |   .0732724    .039041     1.88   0.061    -.0032466    .1497913
         dummy2_29 |   .0875274   .0438214     2.00   0.046     .0016391    .1734157
         dummy2_30 |   .0400195   .0399675     1.00   0.317    -.0383154    .1183544
         dummy2_31 |   .0970938   .0387363     2.51   0.012     .0211721    .1730155
         dummy2_32 |   .1302106    .038691     3.37   0.001     .0543776    .2060436
         dummy2_33 |   .0650613   .0387779     1.68   0.093    -.0109419    .1410645
         dummy2_34 |   .1154817   .0389014     2.97   0.003     .0392364     .191727
         dummy2_35 |   .0613107    .040342     1.52   0.129    -.0177581    .1403795
         dummy2_36 |   .0381225   .0407143     0.94   0.349     -.041676     .117921
         dummy2_37 |   .0769631   .0388042     1.98   0.047     .0009083    .1530179
         dummy2_38 |   .0916106   .0395776     2.31   0.021     .0140399    .1691814
         dummy2_39 |   .0688056   .0386494     1.78   0.075    -.0069457     .144557
         dummy2_40 |   .0222744   .0386168     0.58   0.564    -.0534132     .097962
         dummy2_41 |   .0626536   .0384257     1.63   0.103    -.0126593    .1379666
         dummy2_42 |   .0476515    .039223     1.21   0.224    -.0292243    .1245272
         dummy2_43 |   .0705465   .0395337     1.78   0.074     -.006938    .1480311
         dummy2_44 |   .0858647   .0385496     2.23   0.026     .0103088    .1614206
         dummy2_45 |   .1262706    .055034     2.29   0.022      .018406    .2341352
         dummy2_47 |   .0751199   .0549223     1.37   0.171    -.0325258    .1827655
         dummy2_48 |   .1111513   .0495606     2.24   0.025     .0140142    .2082884
         dummy2_50 |   .1009174    .049045     2.06   0.040     .0047909    .1970438
         dummy2_51 |  -.1695642   .0689138    -2.46   0.014    -.3046328   -.0344957
         dummy2_52 |   .0715985   .0552494     1.30   0.195    -.0366883    .1798853
         dummy2_53 |   .1392844   .0548574     2.54   0.011     .0317659     .246803
         dummy2_54 |   .0926779   .0548806     1.69   0.091    -.0148861    .2002419
         dummy2_55 |   .0987456   .0548588     1.80   0.072    -.0087757     .206267
         dummy2_56 |   .1328351   .0549741     2.42   0.016     .0250879    .2405823
         dummy2_57 |   .1071835    .049408     2.17   0.030     .0103456    .2040214
         dummy2_58 |   .0544632   .0494245     1.10   0.270     -.042407    .1513335
         dummy2_59 |   .1155727   .0549451     2.10   0.035     .0078822    .2232632
         dummy2_60 |   .2010362   .0550737     3.65   0.000     .0930937    .3089788
         dummy2_61 |   .0985023   .0549001     1.79   0.073       -.0091    .2061045
         dummy2_62 |   .1072362   .0548706     1.95   0.051    -.0003083    .2147807
         dummy2_63 |   .0894626   .0548673     1.63   0.103    -.0180752    .1970005
         dummy2_64 |   .2181771   .0549914     3.97   0.000     .1103959    .3259583
         dummy2_65 |   .0710012   .0550724     1.29   0.197    -.0369388    .1789412
         dummy2_66 |   .0969552   .0490341     1.98   0.048     .0008501    .1930603
         dummy2_67 |   .0809951   .0303285     2.67   0.008     .0215524    .1404378
         dummy2_68 |  -.0417892   .0356359    -1.17   0.241    -.1116343    .0280558
         dummy2_69 |   .0460719   .0303149     1.52   0.129    -.0133443    .1054881
         dummy2_70 |   .0306659   .0322892     0.95   0.342    -.0326198    .0939516
         dummy2_71 |   .0753062   .0301363     2.50   0.012     .0162402    .1343723
         dummy2_72 |   .0507028    .030132     1.68   0.092    -.0083548    .1097604
         dummy2_73 |  -.0149907   .0398211    -0.38   0.707    -.0930386    .0630572
         dummy2_74 |   .0744517   .0307572     2.42   0.015     .0141686    .1347347
         dummy2_75 |   .0649429    .030131     2.16   0.031     .0058871    .1239986
         dummy2_76 |    .067432   .0301567     2.24   0.025     .0083259    .1265381
         dummy2_77 |   .0564978   .0301286     1.88   0.061    -.0025531    .1155487
         dummy2_78 |   .0580479   .0301234     1.93   0.054    -.0009928    .1170886
         dummy2_79 |    .074325   .0305496     2.43   0.015      .014449    .1342011
         dummy2_80 |   .0685007   .0310206     2.21   0.027     .0077015    .1292999
         dummy2_81 |   .0397394   .0302603     1.31   0.189    -.0195696    .0990484
         dummy2_82 |   .0877321   .0305265     2.87   0.004     .0279014    .1475629
         dummy2_83 |   .0568428   .0301259     1.89   0.059     -.002203    .1158885
         dummy2_84 |   .0545878   .0302307     1.81   0.071    -.0046633    .1138388
         dummy2_85 |   .0752897   .0301099     2.50   0.012     .0162754     .134304
         dummy2_86 |   .1125987   .0301113     3.74   0.000     .0535816    .1716158
         dummy2_87 |   .0300674   .0311541     0.97   0.334    -.0309936    .0911283
         dummy2_88 |  -.0107786   .0300916    -0.36   0.720     -.069757    .0481998
         dummy2_89 |   .1359535   .0348583     3.90   0.000     .0676325    .2042746
         dummy2_90 |  -.0046977   .0545644    -0.09   0.931    -.1116421    .1022466
         dummy2_91 |   .0171211   .0498236     0.34   0.731    -.0805313    .1147736
         dummy2_92 |   .1035918   .0507948     2.04   0.041     .0040357    .2031478
         dummy2_93 |   .0949506   .0499648     1.90   0.057    -.0029787    .1928798
         dummy2_94 |   .0987068   .0500459     1.97   0.049     .0006186     .196795
         dummy2_95 |   .2831562   .0653038     4.34   0.000     .1551632    .4111492
         dummy2_96 |   .0511777   .0508088     1.01   0.314    -.0484057     .150761
         dummy2_97 |   .1248747   .0507778     2.46   0.014     .0253521    .2243973
         dummy2_98 |   .0183724   .0498413     0.37   0.712    -.0793147    .1160594
         dummy2_99 |  -.0400223   .0505478    -0.79   0.428    -.1390941    .0590495
        dummy2_100 |   .1359952   .0524748     2.59   0.010     .0331464     .238844
        dummy2_101 |   .0211885   .0527179     0.40   0.688    -.0821367    .1245136
        dummy2_102 |  -.1515247   .0508851    -2.98   0.003    -.2512577   -.0517918
        dummy2_103 |   .1638221   .0503815     3.25   0.001     .0650762     .262568
        dummy2_104 |   .0694727   .0383546     1.81   0.070    -.0057009    .1446464
        dummy2_105 |   .0967951   .0348037     2.78   0.005      .028581    .1650092
        dummy2_106 |   .0553422     .03485     1.59   0.112    -.0129625    .1236469
        dummy2_109 |   .1248298   .0358459     3.48   0.000     .0545732    .1950864
        dummy2_111 |   .1003773   .0400781     2.50   0.012     .0218256    .1789289
        dummy2_112 |   .0428515   .0409432     1.05   0.295    -.0373958    .1230988
        dummy2_113 |   .0677414   .0400083     1.69   0.090    -.0106735    .1461563
        dummy2_114 |   .0666797   .0399689     1.67   0.095    -.0116579    .1450173
        dummy2_115 |   .1043778   .0398893     2.62   0.009     .0261961    .1825595
        dummy2_116 |   .0772713    .039866     1.94   0.053    -.0008645    .1554071
        dummy2_117 |   .0165096    .042324     0.39   0.696     -.066444    .0994632
        dummy2_118 |   .0722054   .0407103     1.77   0.076    -.0075854    .1519963
        dummy2_119 |   .0856644   .0398749     2.15   0.032     .0075111    .1638177
        dummy2_120 |   .0925641    .039973     2.32   0.021     .0142185    .1709097
        dummy2_121 |   .0832619   .0399259     2.09   0.037     .0050085    .1615154
        dummy2_122 |   .0736163    .039914     1.84   0.065    -.0046136    .1518463
        dummy2_123 |   .0558451   .0402231     1.39   0.165    -.0229907     .134681
        dummy2_124 |   .0464314   .0412057     1.13   0.260    -.0343302    .1271931
        dummy2_125 |   .0901432   .0399242     2.26   0.024     .0118932    .1683932
        dummy2_126 |   .0961007   .0401553     2.39   0.017     .0173978    .1748035
        dummy2_127 |   .0782293   .0398894     1.96   0.050     .0000476     .156411
        dummy2_128 |   .0763477   .0399871     1.91   0.056    -.0020256    .1547211
        dummy2_129 |   .0922948   .0397766     2.32   0.020     .0143342    .1702554
        dummy2_130 |   .1615011   .0397836     4.06   0.000     .0835267    .2394756
        dummy2_131 |   .1045818   .0404391     2.59   0.010     .0253226     .183841
        dummy2_132 |   .0992501    .039836     2.49   0.013      .021173    .1773272
        dummy2_133 |   .0407289    .041361     0.98   0.325    -.0403373     .121795
        dummy2_134 |  -.0621756   .0579425    -1.07   0.283    -.1757408    .0513897
        dummy2_135 |  -.0257386   .0499059    -0.52   0.606    -.1235524    .0720752
        dummy2_136 |   .0185257   .0389933     0.48   0.635    -.0578998    .0949512
        dummy2_137 |   .0509371   .0385546     1.32   0.186    -.0246284    .1265027
        dummy2_138 |   .0292522   .0418318     0.70   0.484    -.0527367     .111241
        dummy2_140 |   .0142726   .0428056     0.33   0.739    -.0696248    .0981701
        dummy2_141 |    .076319   .0390939     1.95   0.051    -.0003036    .1529415
        dummy2_142 |   .0644448   .0388199     1.66   0.097    -.0116408    .1405304
        dummy2_143 |    .022413   .0465435     0.48   0.630    -.0688106    .1136367
        dummy2_144 |    .029539   .0438111     0.67   0.500    -.0563292    .1154072
        dummy2_145 |   .0142098   .0584772     0.24   0.808    -.1004034    .1288231
        dummy2_146 |   .0377653    .045612     0.83   0.408    -.0516326    .1271633
        dummy2_147 |   .0678736   .0386491     1.76   0.079    -.0078772    .1436244
        dummy2_148 |   .0385642   .0454008     0.85   0.396    -.0504197    .1275482
        dummy2_149 |  -.0947657    .089474    -1.06   0.290    -.2701314    .0806001
        dummy2_150 |   .0078216   .0499552     0.16   0.876    -.0900888    .1057319
        dummy2_151 |  -.0175809   .0618793    -0.28   0.776    -.1388621    .1037004
        dummy2_152 |   .0457541   .0442198     1.03   0.301    -.0409152    .1324234
        dummy2_153 |  -.0908317   .0767831    -1.18   0.237    -.2413238    .0596604
        dummy2_154 |  -.0890767   .0941627    -0.95   0.344    -.2736322    .0954787
        dummy2_155 |   .0270436   .0325171     0.83   0.406    -.0366888     .090776
        dummy2_156 |   .0684523   .0644213     1.06   0.288     -.057811    .1947156
        dummy2_157 |   .0534195   .0324738     1.65   0.100     -.010228     .117067
        dummy2_158 |  -.0260079   .0397524    -0.65   0.513    -.1039211    .0519053
        dummy2_159 |   .0092213   .0329437     0.28   0.780    -.0553472    .0737899
        dummy2_160 |   .0532971   .0323677     1.65   0.100    -.0101424    .1167366
        dummy2_161 |    .153887   .0369151     4.17   0.000     .0815347    .2262393
        dummy2_162 |   .0619778    .033221     1.87   0.062    -.0031343    .1270898
        dummy2_163 |   .0245593   .0332081     0.74   0.460    -.0405274    .0896459
        dummy2_164 |   .0522517   .0324556     1.61   0.107    -.0113601    .1158635
        dummy2_165 |   .0458519   .0326487     1.40   0.160    -.0181384    .1098422
        dummy2_166 |   .0480336   .0330126     1.46   0.146    -.0166699    .1127371
        dummy2_167 |  -.0953305   .0494588    -1.93   0.054    -.1922679    .0016069
        dummy2_168 |   .0087087    .037276     0.23   0.815     -.064351    .0817684
        dummy2_169 |   .0463787   .0324386     1.43   0.153    -.0171997    .1099571
        dummy2_170 |   .0896155   .0323584     2.77   0.006     .0261941    .1530369
        dummy2_171 |   .0415322   .0323276     1.28   0.199    -.0218289    .1048932
        dummy2_172 |    .039347   .0323262     1.22   0.224    -.0240111    .1027052
        dummy2_173 |   .0566389   .0323349     1.75   0.080    -.0067362     .120014
        dummy2_174 |   .1290452   .0324049     3.98   0.000     .0655328    .1925577
        dummy2_175 |   .0558817   .0326102     1.71   0.087    -.0080331    .1197966
        dummy2_176 |    .040819   .0323365     1.26   0.207    -.0225594    .1041975
        dummy2_177 |   .0882064   .0552117     1.60   0.110    -.0200065    .1964194
        dummy2_178 |  -.0377078   .0637081    -0.59   0.554    -.1625734    .0871579
        dummy2_179 |   .1113142   .0551087     2.02   0.043      .003303    .2193253
        dummy2_180 |   .0910144   .0551725     1.65   0.099    -.0171218    .1991506
        dummy2_181 |   .0580196   .0550563     1.05   0.292    -.0498889     .165928
        dummy2_182 |     .10875   .0550378     1.98   0.048     .0008779    .2166221
        dummy2_183 |   .0566899   .0551361     1.03   0.304    -.0513747    .1647546
        dummy2_184 |   .0647364   .0554821     1.17   0.243    -.0440065    .1734792
        dummy2_185 |   .0951025   .0550441     1.73   0.084     -.012782    .2029871
        dummy2_186 |   .0955458   .0551133     1.73   0.083    -.0124742    .2035659
        dummy2_187 |   .1027521   .0550467     1.87   0.062    -.0051375    .2106416
        dummy2_188 |   .0687987   .0552427     1.25   0.213     -.039475    .1770725
        dummy2_189 |   .0663213   .0558825     1.19   0.235    -.0432064    .1758489
        dummy2_190 |   .0377945   .0557018     0.68   0.497    -.0713789     .146968
        dummy2_191 |   .0767271   .0550944     1.39   0.164    -.0312559    .1847101
        dummy2_192 |   .1233067    .055151     2.24   0.025     .0152128    .2314006
        dummy2_193 |   .0782869   .0551183     1.42   0.156     -.029743    .1863167
        dummy2_194 |    .066661   .0550325     1.21   0.226    -.0412006    .1745226
        dummy2_197 |   .1449949   .0551152     2.63   0.009      .036971    .2530188
        dummy2_198 |     .08411   .0550483     1.53   0.127    -.0237826    .1920026
        dummy2_199 |   .0243102   .0273183     0.89   0.374    -.0292326     .077853
        dummy2_200 |  -.0873517   .0372525    -2.34   0.019    -.1603654   -.0143381
        dummy2_201 |   -.011632   .0274147    -0.42   0.671    -.0653638    .0420997
        dummy2_202 |  -.0759053   .0359091    -2.11   0.035    -.1462858   -.0055248
        dummy2_203 |   .0449716   .0272033     1.65   0.098    -.0083458    .0982891
        dummy2_204 |   .0128314   .0271937     0.47   0.637    -.0404672      .06613
        dummy2_205 |  -.0352973   .0305214    -1.16   0.247    -.0951181    .0245236
        dummy2_206 |   -.013736   .0276286    -0.50   0.619    -.0678871    .0404151
        dummy2_207 |  -.0017167    .027819    -0.06   0.951     -.056241    .0528076
        dummy2_208 |   .0183647   .0274175     0.67   0.503    -.0353726     .072102
        dummy2_209 |  -.0162477   .0274129    -0.59   0.553    -.0699759    .0374805
        dummy2_210 |   .0108469   .0275437     0.39   0.694    -.0431378    .0648316
        dummy2_211 |   .0925811   .0331297     2.79   0.005     .0276481    .1575142
        dummy2_212 |   .0182199    .028386     0.64   0.521    -.0374157    .0738555
        dummy2_213 |   .0465394   .0276954     1.68   0.093    -.0077425    .1008214
        dummy2_214 |  -.0020602   .0271656    -0.08   0.940    -.0553037    .0511833
        dummy2_215 |   .0058521   .0271778     0.22   0.830    -.0474155    .0591196
        dummy2_216 |   .0230925   .0272085     0.85   0.396    -.0302352    .0764202
        dummy2_217 |   .0081157   .0271654     0.30   0.765    -.0451275     .061359
        dummy2_218 |   .0457902   .0271757     1.68   0.092    -.0074732    .0990536
        dummy2_219 |  -.0026163   .0271697    -0.10   0.923     -.055868    .0506354
        dummy2_220 |  -.0015935   .0271824    -0.06   0.953      -.05487     .051683
        dummy2_221 |   .0455881   .0306994     1.48   0.138    -.0145816    .1057579
        dummy2_222 |   .0091149   .0310156     0.29   0.769    -.0516745    .0699044
        dummy2_223 |    .027809   .0304777     0.91   0.362    -.0319262    .0875442
        dummy2_224 |   .0285104    .031525     0.90   0.366    -.0332776    .0902983
        dummy2_225 |    .019896   .0306116     0.65   0.516    -.0401015    .0798935
        dummy2_226 |    .036553    .030442     1.20   0.230    -.0231122    .0962182
        dummy2_227 |   .0089743   .0312664     0.29   0.774    -.0523067    .0702552
        dummy2_228 |   .0276839   .0311931     0.89   0.375    -.0334535    .0888212
        dummy2_229 |   .0307718   .0304948     1.01   0.313    -.0289968    .0905405
        dummy2_230 |   .0601903   .0304894     1.97   0.048     .0004322    .1199484
        dummy2_231 |   .0515377   .0305181     1.69   0.091    -.0082766     .111352
        dummy2_232 |   .0422349    .030695     1.38   0.169    -.0179262     .102396
        dummy2_233 |   .0193574   .0320391     0.60   0.546     -.043438    .0821528
        dummy2_234 |   .0205147   .0316984     0.65   0.518     -.041613    .0826423
        dummy2_235 |   .0224447   .0306385     0.73   0.464    -.0376057    .0824951
        dummy2_236 |   .0478955   .0306222     1.56   0.118    -.0121229     .107914
        dummy2_237 |   .0474186   .0304737     1.56   0.120    -.0123087     .107146
        dummy2_238 |   .0388832   .0304829     1.28   0.202    -.0208621    .0986285
        dummy2_239 |   .0627467   .0304384     2.06   0.039     .0030884     .122405
        dummy2_240 |   .0938677   .0304673     3.08   0.002     .0341529    .1535825
        dummy2_241 |   .0447373   .0314976     1.42   0.156    -.0169968    .1064715
        dummy2_242 |    .039522   .0304499     1.30   0.194    -.0201587    .0992026
        dummy2_243 |   .0334246   .0263989     1.27   0.205    -.0183162    .0851655
        dummy2_244 |  -.0392051   .0277486    -1.41   0.158    -.0935913    .0151811
        dummy2_245 |    .025038   .0263651     0.95   0.342    -.0266367    .0767126
        dummy2_246 |   .0388886   .0271434     1.43   0.152    -.0143116    .0920887
        dummy2_247 |   .0147788   .0263645     0.56   0.575    -.0368947    .0664523
        dummy2_248 |   .0395867   .0263283     1.50   0.133    -.0120159    .0911892
        dummy2_249 |   .0848009   .0351239     2.41   0.016     .0159593    .1536426
        dummy2_250 |   .0080812   .0272634     0.30   0.767    -.0453541    .0615166
        dummy2_251 |   .0406467    .026343     1.54   0.123    -.0109846     .092278
        dummy2_252 |   .0313966   .0263586     1.19   0.234    -.0202652    .0830585
        dummy2_253 |   .0392796   .0263553     1.49   0.136    -.0123758     .090935
        dummy2_254 |   .0363512   .0263862     1.38   0.168    -.0153647    .0880671
        dummy2_255 |   .1273815   .0267275     4.77   0.000     .0749965    .1797665
        dummy2_256 |   .0540212   .0273453     1.98   0.048     .0004254    .1076171
        dummy2_257 |   .0394433    .026621     1.48   0.138     -.012733    .0916196
        dummy2_258 |   .0145527   .0269362     0.54   0.589    -.0382414    .0673467
        dummy2_259 |  -.0087865   .0263257    -0.33   0.739    -.0603839    .0428108
        dummy2_260 |   .0129328    .026475     0.49   0.625    -.0389572    .0648229
        dummy2_261 |   .0255215   .0263233     0.97   0.332    -.0260712    .0771143
        dummy2_262 |   .0287579   .0263573     1.09   0.275    -.0229014    .0804171
        dummy2_263 |   .0030712   .0283758     0.11   0.914    -.0525443    .0586867
             _cons |  -.1178543   .0628282    -1.88   0.061    -.2409953    .0052866
------------------------------------------------------------------------------------
Underidentification test (Anderson canon. corr. LM statistic):         212.044
                                                   Chi-sq(4) P-val =    0.0000
------------------------------------------------------------------------------
Weak identification test (Cragg-Donald Wald F statistic):               51.002
Stock-Yogo weak ID test critical values:  5% maximal IV relative bias    16.85
                                         10% maximal IV relative bias    10.27
                                         20% maximal IV relative bias     6.71
                                         30% maximal IV relative bias     5.34
                                         10% maximal IV size             24.58
                                         15% maximal IV size             13.96
                                         20% maximal IV size             10.26
                                         25% maximal IV size              8.31
Source: Stock-Yogo (2005).  Reproduced by permission.
------------------------------------------------------------------------------
Sargan statistic (overidentification test of all instruments):           2.620
                                                   Chi-sq(3) P-val =    0.4540
------------------------------------------------------------------------------
Instrumented:         L.compindex
Included instruments: tfpleadershipklems L.tecnogapklems ind_trend L.tradelib
                      L.pmr y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10 dummy2_1
                      dummy2_2 dummy2_3 dummy2_4 dummy2_5 dummy2_6 dummy2_7
                      dummy2_8 dummy2_9 dummy2_10 dummy2_11 dummy2_12 dummy2_13
                      dummy2_14 dummy2_15 dummy2_16 dummy2_17 dummy2_18
                      dummy2_19 dummy2_20 dummy2_21 dummy2_22 dummy2_23
                      dummy2_24 dummy2_25 dummy2_26 dummy2_27 dummy2_28
                      dummy2_29 dummy2_30 dummy2_31 dummy2_32 dummy2_33
                      dummy2_34 dummy2_35 dummy2_36 dummy2_37 dummy2_38
                      dummy2_39 dummy2_40 dummy2_41 dummy2_42 dummy2_43
                      dummy2_44 dummy2_45 dummy2_47 dummy2_48 dummy2_50
                      dummy2_51 dummy2_52 dummy2_53 dummy2_54 dummy2_55
                      dummy2_56 dummy2_57 dummy2_58 dummy2_59 dummy2_60
                      dummy2_61 dummy2_62 dummy2_63 dummy2_64 dummy2_65
                      dummy2_66 dummy2_67 dummy2_68 dummy2_69 dummy2_70
                      dummy2_71 dummy2_72 dummy2_73 dummy2_74 dummy2_75
                      dummy2_76 dummy2_77 dummy2_78 dummy2_79 dummy2_80
                      dummy2_81 dummy2_82 dummy2_83 dummy2_84 dummy2_85
                      dummy2_86 dummy2_87 dummy2_88 dummy2_89 dummy2_90
                      dummy2_91 dummy2_92 dummy2_93 dummy2_94 dummy2_95
                      dummy2_96 dummy2_97 dummy2_98 dummy2_99 dummy2_100
                      dummy2_101 dummy2_102 dummy2_103 dummy2_104 dummy2_105
                      dummy2_106 dummy2_109 dummy2_111 dummy2_112 dummy2_113
                      dummy2_114 dummy2_115 dummy2_116 dummy2_117 dummy2_118
                      dummy2_119 dummy2_120 dummy2_121 dummy2_122 dummy2_123
                      dummy2_124 dummy2_125 dummy2_126 dummy2_127 dummy2_128
                      dummy2_129 dummy2_130 dummy2_131 dummy2_132 dummy2_133
                      dummy2_134 dummy2_135 dummy2_136 dummy2_137 dummy2_138
                      dummy2_140 dummy2_141 dummy2_142 dummy2_143 dummy2_144
                      dummy2_145 dummy2_146 dummy2_147 dummy2_148 dummy2_149
                      dummy2_150 dummy2_151 dummy2_152 dummy2_153 dummy2_154
                      dummy2_155 dummy2_156 dummy2_157 dummy2_158 dummy2_159
                      dummy2_160 dummy2_161 dummy2_162 dummy2_163 dummy2_164
                      dummy2_165 dummy2_166 dummy2_167 dummy2_168 dummy2_169
                      dummy2_170 dummy2_171 dummy2_172 dummy2_173 dummy2_174
                      dummy2_175 dummy2_176 dummy2_177 dummy2_178 dummy2_179
                      dummy2_180 dummy2_181 dummy2_182 dummy2_183 dummy2_184
                      dummy2_185 dummy2_186 dummy2_187 dummy2_188 dummy2_189
                      dummy2_190 dummy2_191 dummy2_192 dummy2_193 dummy2_194
                      dummy2_197 dummy2_198 dummy2_199 dummy2_200 dummy2_201
                      dummy2_202 dummy2_203 dummy2_204 dummy2_205 dummy2_206
                      dummy2_207 dummy2_208 dummy2_209 dummy2_210 dummy2_211
                      dummy2_212 dummy2_213 dummy2_214 dummy2_215 dummy2_216
                      dummy2_217 dummy2_218 dummy2_219 dummy2_220 dummy2_221
                      dummy2_222 dummy2_223 dummy2_224 dummy2_225 dummy2_226
                      dummy2_227 dummy2_228 dummy2_229 dummy2_230 dummy2_231
                      dummy2_232 dummy2_233 dummy2_234 dummy2_235 dummy2_236
                      dummy2_237 dummy2_238 dummy2_239 dummy2_240 dummy2_241
                      dummy2_242 dummy2_243 dummy2_244 dummy2_245 dummy2_246
                      dummy2_247 dummy2_248 dummy2_249 dummy2_250 dummy2_251
                      dummy2_252 dummy2_253 dummy2_254 dummy2_255 dummy2_256
                      dummy2_257 dummy2_258 dummy2_259 dummy2_260 dummy2_261
                      dummy2_262 dummy2_263
Excluded instruments: L.per108 L.per403 L.per404 L.per505
Dropped collinear:    y_1 y_11 dummy2_46 dummy2_49 dummy2_107 dummy2_108
                      dummy2_110 dummy2_139 dummy2_195 dummy2_196 dummy2_264
------------------------------------------------------------------------------

. *ivendog
. eststo table4_1

. gen sample4_1=1 if e(sample)
(1068 missing values generated)

. ivreg2 tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.tradelib  y_*  dummy*  ( l.compindex l.pmr= l.
> per108  l.per403  l.per404 l.per505)  if tfpcorrectedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 &
>  pcmpoolklems<3, first
Warning - collinearities detected
Vars dropped:       y_1 y_11 dummy2_46 dummy2_49 dummy2_107 dummy2_108
                    dummy2_110 dummy2_139 dummy2_195 dummy2_196 dummy2_264

First-stage regressions
-----------------------

First-stage regression of L.compindex:

OLS estimation
--------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1847
                                                      F(272,  1574) =    38.84
                                                      Prob > F      =   0.0000
Total (centered) SS     =  20.52121747                Centered R2   =   0.8703
Total (uncentered) SS   =  459.7724675                Uncentered R2 =   0.9942
Residual SS             =  2.661131585                Root MSE      =   .04112

------------------------------------------------------------------------------------
       L.compindex |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0118685   .0129597     0.92   0.360    -.0135515    .0372886
                   |
     tecnogapklems |
               L1. |  -.0001179   .0027936    -0.04   0.966    -.0055975    .0053618
                   |
         ind_trend |  -.0169554   .0165679    -1.02   0.306    -.0494528     .015542
                   |
          tradelib |
               L1. |  -.0024135   .0025188    -0.96   0.338     -.007354     .002527
                   |
               y_2 |  -.0813714   .0052443   -15.52   0.000     -.091658   -.0710848
               y_3 |  -.0602389   .0051156   -11.78   0.000     -.070273   -.0502049
               y_4 |  -.0633746   .0050333   -12.59   0.000    -.0732473    -.053502
               y_5 |   -.076175   .0045704   -16.67   0.000    -.0851397   -.0672104
               y_6 |  -.0824111   .0046237   -17.82   0.000    -.0914803   -.0733419
               y_7 |  -.0557596   .0044385   -12.56   0.000    -.0644656   -.0470537
               y_8 |  -.0400836   .0044186    -9.07   0.000    -.0487506   -.0314166
               y_9 |  -.0193848   .0044576    -4.35   0.000    -.0281283   -.0106413
              y_10 |  -.0121551   .0044991    -2.70   0.007      -.02098   -.0033301
          dummy2_1 |  -.0289277   .0272641    -1.06   0.289    -.0824056    .0245501
          dummy2_2 |  -.0282873   .0274769    -1.03   0.303    -.0821826    .0256079
          dummy2_3 |  -.0268076   .0271746    -0.99   0.324    -.0801099    .0264947
          dummy2_4 |  -.0244018    .027567    -0.89   0.376    -.0784737      .02967
          dummy2_5 |  -.0280977   .0271485    -1.03   0.301    -.0813488    .0251534
          dummy2_6 |  -.0274013   .0272283    -1.01   0.314    -.0808089    .0260063
          dummy2_7 |  -.0231713    .027846    -0.83   0.405    -.0777905     .031448
          dummy2_8 |  -.0226797   .0278656    -0.81   0.416    -.0773372    .0319779
          dummy2_9 |  -.0255138   .0273297    -0.93   0.351    -.0791201    .0280926
         dummy2_10 |  -.0265305   .0272714    -0.97   0.331    -.0800225    .0269616
         dummy2_11 |  -.0258534   .0272832    -0.95   0.343    -.0793688    .0276619
         dummy2_12 |  -.0210481   .0282075    -0.75   0.456    -.0763763    .0342802
         dummy2_13 |  -.0099223   .0354551    -0.28   0.780    -.0794665    .0596219
         dummy2_14 |  -.0270497   .0325979    -0.83   0.407    -.0909897    .0368903
         dummy2_15 |  -.0260128   .0272911    -0.95   0.341    -.0795435     .027518
         dummy2_16 |  -.0289636   .0272195    -1.06   0.287    -.0823539    .0244266
         dummy2_17 |  -.0283748   .0271957    -1.04   0.297    -.0817184    .0249688
         dummy2_18 |  -.0279309   .0273373    -1.02   0.307    -.0815523    .0256905
         dummy2_19 |  -.0284655   .0271743    -1.05   0.295    -.0817671    .0248362
         dummy2_20 |  -.0294088   .0272242    -1.08   0.280    -.0828084    .0239908
         dummy2_21 |  -.0276729   .0277322    -1.00   0.319    -.0820689    .0267232
         dummy2_22 |  -.0278616   .0272872    -1.02   0.307    -.0813847    .0256616
         dummy2_23 |  -.1698778   .0193136    -8.80   0.000     -.207761   -.1319947
         dummy2_24 |  -.1637438   .0204961    -7.99   0.000    -.2039464   -.1235413
         dummy2_25 |  -.1682191   .0192836    -8.72   0.000    -.2060433   -.1303949
         dummy2_26 |  -.1655921   .0200256    -8.27   0.000    -.2048718   -.1263124
         dummy2_27 |  -.1690269   .0193363    -8.74   0.000    -.2069546   -.1310993
         dummy2_28 |   -.168678   .0201122    -8.39   0.000    -.2081274   -.1292286
         dummy2_29 |  -.1479747   .0255804    -5.78   0.000    -.1981499   -.0977995
         dummy2_30 |  -.1619305   .0208729    -7.76   0.000    -.2028722   -.1209888
         dummy2_31 |  -.1527047   .0206755    -7.39   0.000    -.1932592   -.1121502
         dummy2_32 |  -.1690608   .0193588    -8.73   0.000    -.2070325    -.131089
         dummy2_33 |  -.1664027   .0195783    -8.50   0.000    -.2048051   -.1280004
         dummy2_34 |  -.1665335   .0196544    -8.47   0.000    -.2050852   -.1279819
         dummy2_35 |  -.1502878   .0221785    -6.78   0.000    -.1937903   -.1067854
         dummy2_36 |  -.1525267   .0218906    -6.97   0.000    -.1954645   -.1095889
         dummy2_37 |  -.1677974   .0195135    -8.60   0.000    -.2060725   -.1295222
         dummy2_38 |  -.1724284   .0202983    -8.49   0.000     -.212243   -.1326138
         dummy2_39 |  -.1700002   .0192934    -8.81   0.000    -.2078437   -.1321568
         dummy2_40 |  -.1696221   .0192737    -8.80   0.000    -.2074269   -.1318173
         dummy2_41 |  -.1698143   .0191801    -8.85   0.000    -.2074356   -.1321931
         dummy2_42 |  -.1760564   .0203587    -8.65   0.000    -.2159894   -.1361234
         dummy2_43 |  -.1722689   .0202489    -8.51   0.000    -.2119867   -.1325512
         dummy2_44 |   -.169576   .0192396    -8.81   0.000    -.2073139    -.131838
         dummy2_45 |  -.3287041   .0344029    -9.55   0.000    -.3961844   -.2612237
         dummy2_47 |  -.3255501   .0343857    -9.47   0.000    -.3929967   -.2581034
         dummy2_48 |  -.3016178   .0299834   -10.06   0.000    -.3604295   -.2428061
         dummy2_50 |  -.3057747   .0294239   -10.39   0.000    -.3634889   -.2480604
         dummy2_51 |  -.3216506   .0451571    -7.12   0.000    -.4102251   -.2330762
         dummy2_52 |  -.3233916    .034676    -9.33   0.000    -.3914077   -.2553755
         dummy2_53 |  -.3255286   .0343848    -9.47   0.000    -.3929735   -.2580837
         dummy2_54 |   -.326449   .0343578    -9.50   0.000    -.3938409   -.2590571
         dummy2_55 |  -.3259415   .0343756    -9.48   0.000    -.3933682   -.2585148
         dummy2_56 |  -.3235573    .034519    -9.37   0.000    -.3912654   -.2558492
         dummy2_57 |   -.303087   .0298191   -10.16   0.000    -.3615763   -.2445977
         dummy2_58 |  -.3023075   .0298358   -10.13   0.000    -.3608296   -.2437854
         dummy2_59 |  -.3253386    .034447    -9.44   0.000    -.3929054   -.2577718
         dummy2_60 |  -.3287266   .0344095    -9.55   0.000    -.3962198   -.2612333
         dummy2_61 |  -.3282074   .0343498    -9.55   0.000    -.3955835   -.2608312
         dummy2_62 |   -.327071    .034339    -9.52   0.000     -.394426   -.2597159
         dummy2_63 |  -.3276161   .0343396    -9.54   0.000    -.3949723     -.26026
         dummy2_64 |  -.3291696     .03439    -9.57   0.000    -.3966246   -.2617147
         dummy2_65 |  -.3273892   .0344226    -9.51   0.000    -.3949082   -.2598703
         dummy2_66 |  -.3070498   .0293955   -10.45   0.000    -.3647082   -.2493914
         dummy2_67 |  -.1391973   .0202084    -6.89   0.000    -.1788355   -.0995592
         dummy2_68 |  -.1265373   .0242151    -5.23   0.000    -.1740346     -.07904
         dummy2_69 |   -.138221   .0202012    -6.84   0.000    -.1778451   -.0985968
         dummy2_70 |  -.1324042   .0218001    -6.07   0.000    -.1751645   -.0896438
         dummy2_71 |  -.1390325   .0201227    -6.91   0.000    -.1785025   -.0995624
         dummy2_72 |  -.1391313   .0200897    -6.93   0.000    -.1785367    -.099726
         dummy2_73 |  -.1550601   .0267391    -5.80   0.000     -.207508   -.1026121
         dummy2_74 |  -.1371681   .0205009    -6.69   0.000      -.17738   -.0969561
         dummy2_75 |   -.138761   .0201099    -6.90   0.000    -.1782059    -.099316
         dummy2_76 |   -.139607   .0201004    -6.95   0.000    -.1790335   -.1001805
         dummy2_77 |  -.1386551   .0201125    -6.89   0.000    -.1781051    -.099205
         dummy2_78 |  -.1389755    .020103    -6.91   0.000    -.1784069   -.0995441
         dummy2_79 |  -.1381285     .02042    -6.76   0.000    -.1781817   -.0980753
         dummy2_80 |  -.1382768   .0207643    -6.66   0.000    -.1790054   -.0975483
         dummy2_81 |  -.1382595    .020223    -6.84   0.000    -.1779263   -.0985928
         dummy2_82 |   -.140059   .0202921    -6.90   0.000    -.1798615   -.1002566
         dummy2_83 |  -.1402622   .0200702    -6.99   0.000    -.1796294    -.100895
         dummy2_84 |  -.1396658   .0201207    -6.94   0.000     -.179132   -.1001996
         dummy2_85 |  -.1400178   .0200636    -6.98   0.000    -.1793721   -.1006636
         dummy2_86 |  -.1400472   .0200642    -6.98   0.000    -.1794026   -.1006918
         dummy2_87 |  -.1394283   .0207086    -6.73   0.000    -.1800476    -.098809
         dummy2_88 |  -.1398602   .0200622    -6.97   0.000    -.1792117   -.1005087
         dummy2_89 |   -.099843   .0198982    -5.02   0.000    -.1388727   -.0608134
         dummy2_90 |  -.0706979   .0358273    -1.97   0.049    -.1409722   -.0004235
         dummy2_91 |  -.0944331    .032153    -2.94   0.003    -.1575004   -.0313659
         dummy2_92 |  -.0893778   .0329341    -2.71   0.007    -.1539771   -.0247785
         dummy2_93 |  -.0935162   .0322655    -2.90   0.004    -.1568041   -.0302284
         dummy2_94 |  -.0920243    .032376    -2.84   0.005    -.1555289   -.0285198
         dummy2_95 |  -.1017757   .0434842    -2.34   0.019    -.1870688   -.0164826
         dummy2_96 |  -.0893824   .0329664    -2.71   0.007    -.1540451   -.0247198
         dummy2_97 |  -.0888782   .0329644    -2.70   0.007    -.1535371   -.0242194
         dummy2_98 |  -.0941214   .0321967    -2.92   0.004    -.1572744   -.0309684
         dummy2_99 |  -.0896738   .0327907    -2.73   0.006    -.1539919   -.0253557
        dummy2_100 |   -.084043   .0343039    -2.45   0.014    -.1513291   -.0167569
        dummy2_101 |  -.0838248   .0345009    -2.43   0.015    -.1514973   -.0161522
        dummy2_102 |  -.0884905   .0330922    -2.67   0.008    -.1533999    -.023581
        dummy2_103 |  -.0916178   .0325959    -2.81   0.005    -.1555538   -.0276817
        dummy2_104 |  -.0985885   .0229015    -4.30   0.000    -.1435091   -.0536678
        dummy2_105 |  -.0996509   .0198454    -5.02   0.000    -.1385771   -.0607248
        dummy2_106 |  -.0994606   .0198209    -5.02   0.000    -.1383387   -.0605825
        dummy2_109 |  -.1015874   .0206064    -4.93   0.000    -.1420063   -.0611685
        dummy2_111 |  -.2030887   .0188923   -10.75   0.000    -.2401454   -.1660321
        dummy2_112 |  -.1952717   .0201885    -9.67   0.000    -.2348709   -.1556726
        dummy2_113 |  -.2010256   .0189276   -10.62   0.000    -.2381515   -.1638996
        dummy2_114 |  -.2021211   .0188513   -10.72   0.000    -.2390974   -.1651448
        dummy2_115 |  -.2019565   .0187937   -10.75   0.000    -.2388198   -.1650932
        dummy2_116 |  -.2019126   .0187756   -10.75   0.000    -.2387404   -.1650848
        dummy2_117 |  -.1989982   .0212192    -9.38   0.000    -.2406191   -.1573774
        dummy2_118 |  -.1983987   .0196846   -10.08   0.000    -.2370095   -.1597879
        dummy2_119 |  -.2018999   .0187823   -10.75   0.000    -.2387409    -.165059
        dummy2_120 |   -.202932   .0188115   -10.79   0.000    -.2398303   -.1660336
        dummy2_121 |  -.2015133   .0188389   -10.70   0.000    -.2384653   -.1645614
        dummy2_122 |  -.2016363   .0188262   -10.71   0.000    -.2385633   -.1647094
        dummy2_123 |  -.2007698    .019186   -10.46   0.000    -.2384025    -.163137
        dummy2_124 |  -.2000363   .0201647    -9.92   0.000    -.2395888   -.1604839
        dummy2_125 |  -.2027112   .0187863   -10.79   0.000    -.2395599   -.1658625
        dummy2_126 |  -.2030262   .0189485   -10.71   0.000    -.2401932   -.1658592
        dummy2_127 |  -.2032045   .0187363   -10.85   0.000    -.2399554   -.1664537
        dummy2_128 |   -.202633   .0188303   -10.76   0.000     -.239568    -.165698
        dummy2_129 |  -.2029957   .0186694   -10.87   0.000    -.2396151   -.1663762
        dummy2_130 |  -.2030119   .0186736   -10.87   0.000    -.2396397   -.1663842
        dummy2_131 |  -.2024632   .0192109   -10.54   0.000    -.2401449   -.1647815
        dummy2_132 |  -.2028019   .0187116   -10.84   0.000    -.2395041   -.1660997
        dummy2_133 |   -.217676   .0228491    -9.53   0.000    -.2624939   -.1728581
        dummy2_134 |  -.1991147   .0364695    -5.46   0.000    -.2706485   -.1275808
        dummy2_135 |  -.2044681   .0311987    -6.55   0.000    -.2656636   -.1432726
        dummy2_136 |  -.2214282   .0201177   -11.01   0.000    -.2608885    -.181968
        dummy2_137 |  -.2268372   .0189269   -11.98   0.000    -.2639618   -.1897126
        dummy2_138 |  -.2161697    .023464    -9.21   0.000    -.2621936   -.1701458
        dummy2_140 |  -.2143594   .0243731    -8.79   0.000    -.2621665   -.1665522
        dummy2_141 |  -.2232567   .0200922   -11.11   0.000     -.262667   -.1838464
        dummy2_142 |   -.225017   .0195989   -11.48   0.000    -.2634597   -.1865744
        dummy2_143 |  -.2088016   .0281712    -7.41   0.000    -.2640587   -.1535445
        dummy2_144 |  -.2118565   .0256795    -8.25   0.000    -.2622261   -.1614868
        dummy2_145 |  -.1956996   .0384864    -5.08   0.000    -.2711897   -.1202096
        dummy2_146 |  -.2119489   .0270747    -7.83   0.000    -.2650552   -.1588426
        dummy2_147 |   -.225002   .0193525   -11.63   0.000    -.2629615   -.1870425
        dummy2_148 |  -.2111237   .0269936    -7.82   0.000    -.2640709   -.1581765
        dummy2_149 |  -.1703614   .0620701    -2.74   0.006    -.2921102   -.0486126
        dummy2_150 |  -.2048856   .0312143    -6.56   0.000    -.2661115   -.1436596
        dummy2_151 |  -.1932327   .0411338    -4.70   0.000    -.2739154   -.1125499
        dummy2_152 |  -.2123249   .0259353    -8.19   0.000    -.2631963   -.1614536
        dummy2_153 |  -.1800945   .0525875    -3.42   0.001    -.2832434   -.0769457
        dummy2_154 |  -.1662521   .0655182    -2.54   0.011    -.2947642     -.03774
        dummy2_155 |  -.1219286   .0212253    -5.74   0.000    -.1635614   -.0802958
        dummy2_156 |  -.1656511   .0435804    -3.80   0.000    -.2511328   -.0801694
        dummy2_157 |  -.1202789   .0212615    -5.66   0.000    -.1619828   -.0785751
        dummy2_158 |  -.1077402   .0268282    -4.02   0.000    -.1603629   -.0551175
        dummy2_159 |  -.1185413   .0216279    -5.48   0.000    -.1609637   -.0761188
        dummy2_160 |  -.1215353   .0211534    -5.75   0.000    -.1630271   -.0800435
        dummy2_161 |  -.1207115   .0244204    -4.94   0.000    -.1686115   -.0728115
        dummy2_162 |  -.1178583   .0218194    -5.40   0.000    -.1606565   -.0750602
        dummy2_163 |  -.1174575   .0218618    -5.37   0.000    -.1603389   -.0745761
        dummy2_164 |  -.1214247   .0212016    -5.73   0.000    -.1630111   -.0798384
        dummy2_165 |  -.1198502   .0213983    -5.60   0.000    -.1618223   -.0778781
        dummy2_166 |  -.1183241   .0216931    -5.45   0.000    -.1608744   -.0757738
        dummy2_167 |   -.099577   .0338699    -2.94   0.003     -.166012    -.033142
        dummy2_168 |  -.1088331   .0250891    -4.34   0.000    -.1580447   -.0596215
        dummy2_169 |  -.1214655   .0212071    -5.73   0.000    -.1630627   -.0798684
        dummy2_170 |  -.1236376   .0210947    -5.86   0.000    -.1650142   -.0822609
        dummy2_171 |  -.1232061   .0210816    -5.84   0.000    -.1645571    -.081855
        dummy2_172 |  -.1228356   .0210853    -5.83   0.000    -.1641938   -.0814773
        dummy2_173 |  -.1232925   .0210834    -5.85   0.000    -.1646469   -.0819381
        dummy2_174 |  -.1242327    .021117    -5.88   0.000    -.1656532   -.0828122
        dummy2_175 |  -.1229039   .0212495    -5.78   0.000    -.1645843   -.0812235
        dummy2_176 |   -.122994   .0210866    -5.83   0.000    -.1643549   -.0816332
        dummy2_177 |  -.2913548   .0330895    -8.81   0.000    -.3562588   -.2264507
        dummy2_178 |  -.2672943   .0403935    -6.62   0.000    -.3465251   -.1880636
        dummy2_179 |  -.2882964   .0330807    -8.71   0.000    -.3531832   -.2234095
        dummy2_180 |  -.2875139   .0331574    -8.67   0.000    -.3525513   -.2224765
        dummy2_181 |  -.2889165   .0330536    -8.74   0.000    -.3537501   -.2240828
        dummy2_182 |  -.2892256   .0330313    -8.76   0.000    -.3540155   -.2244357
        dummy2_183 |  -.2857812   .0332003    -8.61   0.000    -.3509027   -.2206596
        dummy2_184 |   -.286335   .0334028    -8.57   0.000    -.3518535   -.2208164
        dummy2_185 |  -.2881095   .0330828    -8.71   0.000    -.3530005   -.2232184
        dummy2_186 |  -.2900698   .0330411    -8.78   0.000    -.3548791   -.2252605
        dummy2_187 |  -.2888685   .0330511    -8.74   0.000    -.3536974   -.2240396
        dummy2_188 |  -.2854894   .0333347    -8.56   0.000    -.3508745   -.2201043
        dummy2_189 |  -.2833453   .0339086    -8.36   0.000    -.3498561   -.2168345
        dummy2_190 |  -.2836649   .0337179    -8.41   0.000    -.3498017   -.2175281
        dummy2_191 |  -.2895331   .0330553    -8.76   0.000    -.3543702   -.2246959
        dummy2_192 |  -.2914749   .0330564    -8.82   0.000     -.356314   -.2266357
        dummy2_193 |  -.2908739   .0330359    -8.80   0.000    -.3556729   -.2260749
        dummy2_194 |  -.2898066   .0330294    -8.77   0.000    -.3545929   -.2250203
        dummy2_197 |  -.2901343   .0330398    -8.78   0.000     -.354941   -.2253276
        dummy2_198 |  -.2901127   .0330235    -8.79   0.000    -.3548874   -.2253381
        dummy2_199 |   .0384087   .0190308     2.02   0.044     .0010803    .0757371
        dummy2_200 |   .0575917   .0257383     2.24   0.025     .0071067    .1080767
        dummy2_201 |    .040471   .0190729     2.12   0.034     .0030599     .077882
        dummy2_202 |   .0530083   .0248643     2.13   0.033     .0042377    .1017788
        dummy2_203 |   .0387477   .0189523     2.04   0.041     .0015732    .0759221
        dummy2_204 |   .0386829   .0189478     2.04   0.041     .0015172    .0758485
        dummy2_205 |   .0504695   .0210869     2.39   0.017      .009108     .091831
        dummy2_206 |   .0414353   .0192067     2.16   0.031     .0037618    .0791088
        dummy2_207 |   .0417878   .0193368     2.16   0.031     .0038591    .0797164
        dummy2_208 |   .0398442   .0190889     2.09   0.037      .002402    .0772865
        dummy2_209 |    .040386   .0190729     2.12   0.034      .002975    .0777969
        dummy2_210 |   .0409142   .0191544     2.14   0.033     .0033433    .0784851
        dummy2_211 |   .0587815   .0228278     2.57   0.010     .0140054    .1035576
        dummy2_212 |   .0411675   .0197367     2.09   0.037     .0024544    .0798805
        dummy2_213 |   .0408857   .0192519     2.12   0.034     .0031236    .0786477
        dummy2_214 |   .0381574   .0189311     2.02   0.044     .0010245    .0752903
        dummy2_215 |   .0380731   .0189382     2.01   0.045     .0009264    .0752198
        dummy2_216 |   .0385417   .0189467     2.03   0.042     .0013782    .0757052
        dummy2_217 |   .0383129   .0189312     2.02   0.043       .00118    .0754459
        dummy2_218 |   .0382274   .0189336     2.02   0.044     .0010897    .0753651
        dummy2_219 |   .0386741   .0189229     2.04   0.041     .0015574    .0757908
        dummy2_220 |   .0386418   .0189356     2.04   0.041     .0015001    .0757834
        dummy2_221 |  -.1681232   .0190709    -8.82   0.000    -.2055303   -.1307161
        dummy2_222 |  -.1675774   .0193043    -8.68   0.000    -.2054423   -.1297126
        dummy2_223 |  -.1672345   .0189486    -8.83   0.000    -.2044016   -.1300673
        dummy2_224 |  -.1636786   .0198723    -8.24   0.000    -.2026575   -.1246997
        dummy2_225 |  -.1666913   .0190827    -8.74   0.000    -.2041214   -.1292611
        dummy2_226 |  -.1681968   .0188975    -8.90   0.000    -.2052637   -.1311298
        dummy2_227 |  -.1644383   .0195901    -8.39   0.000    -.2028638   -.1260128
        dummy2_228 |  -.1650319   .0195236    -8.45   0.000    -.2033269   -.1267369
        dummy2_229 |   -.167394   .0189558    -8.83   0.000    -.2045753   -.1302128
        dummy2_230 |  -.1684794   .0189192    -8.91   0.000    -.2055888     -.13137
        dummy2_231 |  -.1670175   .0189859    -8.80   0.000    -.2042578   -.1297771
        dummy2_232 |   -.165989   .0191543    -8.67   0.000    -.2035597   -.1284183
        dummy2_233 |  -.1634944    .020258    -8.07   0.000    -.2032299    -.123759
        dummy2_234 |  -.1558919   .0202963    -7.68   0.000    -.1957025   -.1160812
        dummy2_235 |  -.1668922   .0190915    -8.74   0.000    -.2043396   -.1294448
        dummy2_236 |  -.1691194   .0189802    -8.91   0.000    -.2063485   -.1318903
        dummy2_237 |  -.1692938   .0188813    -8.97   0.000    -.2063291   -.1322586
        dummy2_238 |   -.168717   .0188983    -8.93   0.000    -.2057854   -.1316486
        dummy2_239 |  -.1690679   .0188696    -8.96   0.000      -.20608   -.1320558
        dummy2_240 |  -.1690535   .0188816    -8.95   0.000    -.2060893   -.1320176
        dummy2_241 |  -.1684581   .0196345    -8.58   0.000    -.2069706   -.1299456
        dummy2_242 |  -.1689234   .0188732    -8.95   0.000    -.2059427    -.131904
        dummy2_243 |  -.0008589   .0184455    -0.05   0.963    -.0370391    .0353214
        dummy2_244 |    .002578   .0193881     0.13   0.894    -.0354512    .0406072
        dummy2_245 |   .0004368    .018422     0.02   0.981    -.0356975    .0365711
        dummy2_246 |   .0035309    .018965     0.19   0.852    -.0336685    .0407303
        dummy2_247 |    .000405   .0184216     0.02   0.982    -.0357285    .0365384
        dummy2_248 |  -.0000599   .0183963    -0.00   0.997    -.0361438    .0360239
        dummy2_249 |   .0021375   .0245483     0.09   0.931    -.0460133    .0502883
        dummy2_250 |   .0010782   .0190489     0.06   0.955    -.0362858    .0384422
        dummy2_251 |   .0003785   .0184066     0.02   0.984    -.0357255    .0364824
        dummy2_252 |  -.0001044   .0184175    -0.01   0.995    -.0362298    .0360209
        dummy2_253 |   .0006486   .0184152     0.04   0.972    -.0354722    .0367694
        dummy2_254 |   .0008377   .0184367     0.05   0.964    -.0353253    .0370008
        dummy2_255 |   .0009689   .0186753     0.05   0.959    -.0356622    .0376001
        dummy2_256 |  -.0019824   .0191073    -0.10   0.917    -.0394608     .035496
        dummy2_257 |   .0017083   .0186006     0.09   0.927    -.0347763    .0381928
        dummy2_258 |  -.0002182   .0188202    -0.01   0.991    -.0371335    .0366971
        dummy2_259 |   -.000428   .0183944    -0.02   0.981    -.0365082    .0356521
        dummy2_260 |   .0001838   .0184986     0.01   0.992    -.0361008    .0364683
        dummy2_261 |  -.0002026   .0183928    -0.01   0.991    -.0362797    .0358744
        dummy2_262 |  -.0001791   .0184165    -0.01   0.992    -.0363025    .0359443
        dummy2_263 |      .0005   .0198246     0.03   0.980    -.0383854    .0393854
                   |
            per108 |
               L1. |   .0123785   .0012712     9.74   0.000     .0098851    .0148719
                   |
            per403 |
               L1. |  -.0126426   .0013789    -9.17   0.000    -.0153472   -.0099379
                   |
            per404 |
               L1. |   .0033666   .0030056     1.12   0.263    -.0025287     .009262
                   |
            per505 |
               L1. |   .0191991   .0031401     6.11   0.000     .0130398    .0253583
                   |
             _cons |   .6369257    .013442    47.38   0.000     .6105596    .6632918
------------------------------------------------------------------------------------
Included instruments: tfpleadershipklems L.tecnogapklems ind_trend L.tradelib
                      y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10 dummy2_1 dummy2_2
                      dummy2_3 dummy2_4 dummy2_5 dummy2_6 dummy2_7 dummy2_8
                      dummy2_9 dummy2_10 dummy2_11 dummy2_12 dummy2_13 dummy2_14
                      dummy2_15 dummy2_16 dummy2_17 dummy2_18 dummy2_19
                      dummy2_20 dummy2_21 dummy2_22 dummy2_23 dummy2_24
                      dummy2_25 dummy2_26 dummy2_27 dummy2_28 dummy2_29
                      dummy2_30 dummy2_31 dummy2_32 dummy2_33 dummy2_34
                      dummy2_35 dummy2_36 dummy2_37 dummy2_38 dummy2_39
                      dummy2_40 dummy2_41 dummy2_42 dummy2_43 dummy2_44
                      dummy2_45 dummy2_47 dummy2_48 dummy2_50 dummy2_51
                      dummy2_52 dummy2_53 dummy2_54 dummy2_55 dummy2_56
                      dummy2_57 dummy2_58 dummy2_59 dummy2_60 dummy2_61
                      dummy2_62 dummy2_63 dummy2_64 dummy2_65 dummy2_66
                      dummy2_67 dummy2_68 dummy2_69 dummy2_70 dummy2_71
                      dummy2_72 dummy2_73 dummy2_74 dummy2_75 dummy2_76
                      dummy2_77 dummy2_78 dummy2_79 dummy2_80 dummy2_81
                      dummy2_82 dummy2_83 dummy2_84 dummy2_85 dummy2_86
                      dummy2_87 dummy2_88 dummy2_89 dummy2_90 dummy2_91
                      dummy2_92 dummy2_93 dummy2_94 dummy2_95 dummy2_96
                      dummy2_97 dummy2_98 dummy2_99 dummy2_100 dummy2_101
                      dummy2_102 dummy2_103 dummy2_104 dummy2_105 dummy2_106
                      dummy2_109 dummy2_111 dummy2_112 dummy2_113 dummy2_114
                      dummy2_115 dummy2_116 dummy2_117 dummy2_118 dummy2_119
                      dummy2_120 dummy2_121 dummy2_122 dummy2_123 dummy2_124
                      dummy2_125 dummy2_126 dummy2_127 dummy2_128 dummy2_129
                      dummy2_130 dummy2_131 dummy2_132 dummy2_133 dummy2_134
                      dummy2_135 dummy2_136 dummy2_137 dummy2_138 dummy2_140
                      dummy2_141 dummy2_142 dummy2_143 dummy2_144 dummy2_145
                      dummy2_146 dummy2_147 dummy2_148 dummy2_149 dummy2_150
                      dummy2_151 dummy2_152 dummy2_153 dummy2_154 dummy2_155
                      dummy2_156 dummy2_157 dummy2_158 dummy2_159 dummy2_160
                      dummy2_161 dummy2_162 dummy2_163 dummy2_164 dummy2_165
                      dummy2_166 dummy2_167 dummy2_168 dummy2_169 dummy2_170
                      dummy2_171 dummy2_172 dummy2_173 dummy2_174 dummy2_175
                      dummy2_176 dummy2_177 dummy2_178 dummy2_179 dummy2_180
                      dummy2_181 dummy2_182 dummy2_183 dummy2_184 dummy2_185
                      dummy2_186 dummy2_187 dummy2_188 dummy2_189 dummy2_190
                      dummy2_191 dummy2_192 dummy2_193 dummy2_194 dummy2_197
                      dummy2_198 dummy2_199 dummy2_200 dummy2_201 dummy2_202
                      dummy2_203 dummy2_204 dummy2_205 dummy2_206 dummy2_207
                      dummy2_208 dummy2_209 dummy2_210 dummy2_211 dummy2_212
                      dummy2_213 dummy2_214 dummy2_215 dummy2_216 dummy2_217
                      dummy2_218 dummy2_219 dummy2_220 dummy2_221 dummy2_222
                      dummy2_223 dummy2_224 dummy2_225 dummy2_226 dummy2_227
                      dummy2_228 dummy2_229 dummy2_230 dummy2_231 dummy2_232
                      dummy2_233 dummy2_234 dummy2_235 dummy2_236 dummy2_237
                      dummy2_238 dummy2_239 dummy2_240 dummy2_241 dummy2_242
                      dummy2_243 dummy2_244 dummy2_245 dummy2_246 dummy2_247
                      dummy2_248 dummy2_249 dummy2_250 dummy2_251 dummy2_252
                      dummy2_253 dummy2_254 dummy2_255 dummy2_256 dummy2_257
                      dummy2_258 dummy2_259 dummy2_260 dummy2_261 dummy2_262
                      dummy2_263 L.per108 L.per403 L.per404 L.per505
------------------------------------------------------------------------------
F test of excluded instruments:
  F(  4,  1574) =    55.17
  Prob > F      =   0.0000
Angrist-Pischke multivariate F test of excluded instruments:
  F(  3,  1574) =    65.68
  Prob > F      =   0.0000

First-stage regression of L.pmr:

OLS estimation
--------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1847
                                                      F(272,  1574) =   204.02
                                                      Prob > F      =   0.0000
Total (centered) SS     =   544.459182                Centered R2   =   0.9724
Total (uncentered) SS   =  6074.237273                Uncentered R2 =   0.9975
Residual SS             =  15.01702643                Root MSE      =   .09768

------------------------------------------------------------------------------------
             L.pmr |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0056544    .030786     0.18   0.854    -.0547315    .0660403
                   |
     tecnogapklems |
               L1. |  -.0128104   .0066363    -1.93   0.054    -.0258273    .0002066
                   |
         ind_trend |   .0298592   .0393573     0.76   0.448     -.047339    .1070574
                   |
          tradelib |
               L1. |  -.0009354   .0059834    -0.16   0.876    -.0126716    .0108009
                   |
               y_2 |   .5150764    .012458    41.35   0.000     .4906404    .5395125
               y_3 |   .5590409   .0121521    46.00   0.000     .5352048    .5828769
               y_4 |   .5807071   .0119567    48.57   0.000     .5572544    .6041599
               y_5 |   .5677054    .010857    52.29   0.000     .5464097    .5890011
               y_6 |   .3217703   .0109836    29.30   0.000     .3002262    .3433144
               y_7 |   .3175051   .0105437    30.11   0.000     .2968239    .3381864
               y_8 |   .2885174   .0104965    27.49   0.000     .2679287    .3091061
               y_9 |    .272506   .0105891    25.73   0.000     .2517356    .2932763
              y_10 |  -.0122876   .0106878    -1.15   0.250    -.0332514    .0086762
          dummy2_1 |   .0969654   .0647665     1.50   0.135    -.0300723    .2240032
          dummy2_2 |   .1076632    .065272     1.65   0.099    -.0203661    .2356926
          dummy2_3 |   .0935435   .0645539     1.45   0.148    -.0330772    .2201642
          dummy2_4 |   .0976377   .0654859     1.49   0.136     -.030811    .2260864
          dummy2_5 |   .0929495   .0644919     1.44   0.150    -.0335496    .2194485
          dummy2_6 |   .0989583   .0646814     1.53   0.126    -.0279126    .2258291
          dummy2_7 |   .1169609   .0661489     1.77   0.077    -.0127883      .24671
          dummy2_8 |   .1078656   .0661952     1.63   0.103    -.0219745    .2377057
          dummy2_9 |   .0969466   .0649221     1.49   0.136    -.0303964    .2242896
         dummy2_10 |   .0949367   .0647837     1.47   0.143    -.0321348    .2220082
         dummy2_11 |   .0962859   .0648119     1.49   0.138    -.0308409    .2234127
         dummy2_12 |   .0945339   .0670076     1.41   0.159    -.0368996    .2259674
         dummy2_13 |   .0654885   .0842243     0.78   0.437    -.0997152    .2306921
         dummy2_14 |   .0741725   .0774371     0.96   0.338    -.0777183    .2260632
         dummy2_15 |   .0932966   .0648306     1.44   0.150    -.0338668      .22046
         dummy2_16 |   .0971318   .0646605     1.50   0.133    -.0296979    .2239615
         dummy2_17 |   .0971809   .0646039     1.50   0.133    -.0295379    .2238997
         dummy2_18 |   .1041527   .0649403     1.60   0.109     -.023226    .2315313
         dummy2_19 |   .0956044   .0645532     1.48   0.139    -.0310148    .2222236
         dummy2_20 |   .0958709   .0646717     1.48   0.138    -.0309809    .2227227
         dummy2_21 |   .1150766   .0658785     1.75   0.081    -.0141423    .2442955
         dummy2_22 |   .1022291   .0648214     1.58   0.115    -.0249162    .2293744
         dummy2_23 |   1.444728   .0458799    31.49   0.000     1.354736     1.53472
         dummy2_24 |   1.462329   .0486889    30.03   0.000     1.366827    1.557831
         dummy2_25 |   1.444286   .0458085    31.53   0.000     1.354434    1.534138
         dummy2_26 |   1.453474   .0475713    30.55   0.000     1.360164    1.546783
         dummy2_27 |   1.447753   .0459338    31.52   0.000     1.357655     1.53785
         dummy2_28 |   1.435913   .0477768    30.05   0.000       1.3422    1.529626
         dummy2_29 |   1.397289   .0607667    22.99   0.000     1.278097    1.516481
         dummy2_30 |   1.452503   .0495841    29.29   0.000     1.355246    1.549761
         dummy2_31 |   1.431829   .0491151    29.15   0.000     1.335492    1.528167
         dummy2_32 |    1.44767   .0459872    31.48   0.000     1.357468    1.537873
         dummy2_33 |    1.44785   .0465087    31.13   0.000     1.356625    1.539076
         dummy2_34 |   1.451138   .0466895    31.08   0.000     1.359557    1.542718
         dummy2_35 |   1.436533   .0526854    27.27   0.000     1.333192    1.539874
         dummy2_36 |    1.47261   .0520016    28.32   0.000     1.370611     1.57461
         dummy2_37 |    1.44933   .0463547    31.27   0.000     1.358407    1.540254
         dummy2_38 |    1.45002   .0482191    30.07   0.000      1.35544    1.544601
         dummy2_39 |   1.446217   .0458318    31.55   0.000     1.356319    1.536115
         dummy2_40 |   1.446478    .045785    31.59   0.000     1.356672    1.536284
         dummy2_41 |   1.437503   .0455627    31.55   0.000     1.348133    1.526873
         dummy2_42 |   1.397571   .0483625    28.90   0.000      1.30271    1.492433
         dummy2_43 |   1.453009   .0481018    30.21   0.000     1.358659     1.54736
         dummy2_44 |   1.444342   .0457041    31.60   0.000     1.354694    1.533989
         dummy2_45 |   1.052711   .0817248    12.88   0.000     .8924096    1.213012
         dummy2_47 |   1.057764    .081684    12.95   0.000     .8975432    1.217985
         dummy2_48 |   1.089315   .0712263    15.29   0.000     .9496071    1.229024
         dummy2_50 |   1.089067   .0698972    15.58   0.000     .9519653    1.226168
         dummy2_51 |   1.074758   .1072717    10.02   0.000     .8643471    1.285168
         dummy2_52 |   1.061318   .0823737    12.88   0.000     .8997447    1.222892
         dummy2_53 |   1.049988   .0816819    12.85   0.000      .889771    1.210205
         dummy2_54 |   1.052566   .0816177    12.90   0.000     .8924748    1.212657
         dummy2_55 |   1.049575   .0816598    12.85   0.000     .8894014    1.209748
         dummy2_56 |   1.052347   .0820006    12.83   0.000     .8915046    1.213189
         dummy2_57 |   1.087528   .0708359    15.35   0.000     .9485849     1.22647
         dummy2_58 |    1.09132   .0708756    15.40   0.000     .9522999    1.230341
         dummy2_59 |   1.051265   .0818295    12.85   0.000      .890759    1.211772
         dummy2_60 |   1.056857   .0817405    12.93   0.000     .8965249    1.217188
         dummy2_61 |   1.048019   .0815987    12.84   0.000     .8879652    1.208072
         dummy2_62 |   1.052305   .0815731    12.90   0.000     .8923018    1.212308
         dummy2_63 |   1.048838   .0815744    12.86   0.000     .8888322    1.208844
         dummy2_64 |    1.04759   .0816941    12.82   0.000     .8873492     1.20783
         dummy2_65 |   1.061949   .0817715    12.99   0.000     .9015569    1.222342
         dummy2_66 |   1.085787   .0698296    15.55   0.000     .9488187    1.222756
         dummy2_67 |   .6607045   .0480054    13.76   0.000     .5665433    .7548658
         dummy2_68 |   .6788753   .0575235    11.80   0.000     .5660446     .791706
         dummy2_69 |   .6644191   .0479884    13.85   0.000     .5702911    .7585471
         dummy2_70 |   .6569037   .0517867    12.68   0.000     .5553256    .7584818
         dummy2_71 |   .6520916   .0478018    13.64   0.000     .5583296    .7458536
         dummy2_72 |   .6569242   .0477235    13.77   0.000     .5633159    .7505325
         dummy2_73 |   .7223887   .0635193    11.37   0.000     .5977975      .84698
         dummy2_74 |   .6727585   .0487003    13.81   0.000     .5772341    .7682829
         dummy2_75 |   .6547626   .0477714    13.71   0.000     .5610604    .7484649
         dummy2_76 |   .6561928    .047749    13.74   0.000     .5625345    .7498512
         dummy2_77 |   .6544281   .0477776    13.70   0.000     .5607137    .7481425
         dummy2_78 |   .6541249    .047755    13.70   0.000     .5604548     .747795
         dummy2_79 |    .655951   .0485081    13.52   0.000     .5608038    .7510983
         dummy2_80 |   .6605305   .0493259    13.39   0.000      .563779    .7572819
         dummy2_81 |   .6532907     .04804    13.60   0.000     .5590615      .74752
         dummy2_82 |   .6682426   .0482044    13.86   0.000      .573691    .7627942
         dummy2_83 |   .6550699   .0476772    13.74   0.000     .5615523    .7485875
         dummy2_84 |   .6621379   .0477972    13.85   0.000     .5683851    .7558906
         dummy2_85 |    .655241   .0476615    13.75   0.000     .5617542    .7487278
         dummy2_86 |   .6551971   .0476629    13.75   0.000     .5617075    .7486866
         dummy2_87 |   .6786598   .0491936    13.80   0.000     .5821679    .7751518
         dummy2_88 |   .6538324   .0476582    13.72   0.000     .5603521    .7473126
         dummy2_89 |   1.260051   .0472685    26.66   0.000     1.167335    1.352766
         dummy2_90 |   1.296236   .0851086    15.23   0.000     1.129298    1.463174
         dummy2_91 |   1.234738   .0763801    16.17   0.000      1.08492    1.384555
         dummy2_92 |   1.243855   .0782356    15.90   0.000     1.090398    1.397312
         dummy2_93 |   1.235689   .0766474    16.12   0.000     1.085347     1.38603
         dummy2_94 |   1.231947   .0769098    16.02   0.000      1.08109    1.382803
         dummy2_95 |   1.256469   .1032977    12.16   0.000     1.053853    1.459084
         dummy2_96 |   1.239583   .0783124    15.83   0.000     1.085976    1.393191
         dummy2_97 |   1.236302   .0783077    15.79   0.000     1.082703      1.3899
         dummy2_98 |   1.228568    .076484    16.06   0.000     1.078547    1.378589
         dummy2_99 |   1.233899    .077895    15.84   0.000      1.08111    1.386688
        dummy2_100 |   1.240766   .0814896    15.23   0.000     1.080927    1.400606
        dummy2_101 |   1.240086   .0819576    15.13   0.000     1.079328    1.400843
        dummy2_102 |   1.228699   .0786112    15.63   0.000     1.074505    1.382892
        dummy2_103 |   1.239955   .0774323    16.01   0.000     1.088074    1.391837
        dummy2_104 |   1.238385   .0544029    22.76   0.000     1.131676    1.345095
        dummy2_105 |    1.26112   .0471431    26.75   0.000      1.16865    1.353589
        dummy2_106 |   1.267791   .0470849    26.93   0.000     1.175435    1.360147
        dummy2_109 |    1.25709    .048951    25.68   0.000     1.161074    1.353106
        dummy2_111 |   1.135864    .044879    25.31   0.000     1.047835    1.223893
        dummy2_112 |   1.138892   .0479581    23.75   0.000     1.044824    1.232961
        dummy2_113 |   1.137941   .0449629    25.31   0.000     1.049747    1.226134
        dummy2_114 |   1.134688   .0447816    25.34   0.000      1.04685    1.222526
        dummy2_115 |   1.133555   .0446448    25.39   0.000     1.045986    1.221125
        dummy2_116 |    1.13332   .0446018    25.41   0.000     1.045835    1.220805
        dummy2_117 |   1.189044   .0504066    23.59   0.000     1.090173    1.287915
        dummy2_118 |   1.148659   .0467611    24.56   0.000     1.056939     1.24038
        dummy2_119 |   1.133645   .0446177    25.41   0.000     1.046128    1.221161
        dummy2_120 |    1.13442   .0446872    25.39   0.000     1.046768    1.222073
        dummy2_121 |   1.135446   .0447522    25.37   0.000     1.047666    1.223226
        dummy2_122 |   1.134719   .0447219    25.37   0.000     1.046998    1.222439
        dummy2_123 |   1.134653   .0455766    24.90   0.000     1.045256     1.22405
        dummy2_124 |    1.13582   .0479016    23.71   0.000     1.041862    1.229778
        dummy2_125 |   1.133249   .0446271    25.39   0.000     1.045715    1.220784
        dummy2_126 |   1.139003   .0450126    25.30   0.000     1.050713    1.227294
        dummy2_127 |   1.131941   .0445086    25.43   0.000     1.044639    1.219244
        dummy2_128 |   1.136266   .0447317    25.40   0.000     1.048526    1.224006
        dummy2_129 |   1.128582   .0443494    25.45   0.000     1.041592    1.215573
        dummy2_130 |   1.128823   .0443595    25.45   0.000     1.041813    1.215833
        dummy2_131 |   1.145395    .045636    25.10   0.000     1.055882    1.234909
        dummy2_132 |   1.131524   .0444497    25.46   0.000     1.044337    1.218711
        dummy2_133 |   .6111757   .0542786    11.26   0.000     .5047098    .7176416
        dummy2_134 |   .6497853    .086634     7.50   0.000     .4798551    .8197155
        dummy2_135 |   .5870123   .0741133     7.92   0.000     .4416412    .7323834
        dummy2_136 |    .611319   .0477899    12.79   0.000     .5175804    .7050575
        dummy2_137 |   .6210973   .0449612    13.81   0.000     .5329071    .7092875
        dummy2_138 |    .602915   .0557391    10.82   0.000     .4935843    .7122458
        dummy2_140 |   .6170482   .0578987    10.66   0.000     .5034814     .730615
        dummy2_141 |   .6143632   .0477294    12.87   0.000     .5207432    .7079832
        dummy2_142 |   .6167943   .0465575    13.25   0.000      .525473    .7081156
        dummy2_143 |   .5894063   .0669213     8.81   0.000      .458142    .7206707
        dummy2_144 |   .5981884   .0610022     9.81   0.000     .4785344    .7178425
        dummy2_145 |   .5699972   .0914253     6.23   0.000     .3906691    .7493254
        dummy2_146 |   .5948277   .0643166     9.25   0.000     .4686725    .7209829
        dummy2_147 |   .6179219   .0459724    13.44   0.000     .5277483    .7080954
        dummy2_148 |   .6030309   .0641239     9.40   0.000     .4772538    .7288081
        dummy2_149 |   .5164599   .1474488     3.50   0.000     .2272431    .8056767
        dummy2_150 |   .5893775   .0741502     7.95   0.000     .4439341     .734821
        dummy2_151 |   .5559026   .0977141     5.69   0.000     .3642391    .7475661
        dummy2_152 |   .5944613   .0616099     9.65   0.000     .4736152    .7153073
        dummy2_153 |   .5584236   .1249226     4.47   0.000     .3133914    .8034558
        dummy2_154 |   .5141107   .1556398     3.30   0.001     .2088276    .8193939
        dummy2_155 |    .357465   .0504211     7.09   0.000     .2585655    .4563645
        dummy2_156 |    .224274   .1035261     2.17   0.030     .0212104    .4273375
        dummy2_157 |    .351561   .0505072     6.96   0.000     .2524926    .4506294
        dummy2_158 |   .3556836   .0637309     5.58   0.000     .2306773    .4806899
        dummy2_159 |   .3566806   .0513775     6.94   0.000     .2559051     .457456
        dummy2_160 |   .3511969   .0502503     6.99   0.000     .2526323    .4497615
        dummy2_161 |   .3440057   .0580113     5.93   0.000     .2302183    .4577932
        dummy2_162 |   .3638703   .0518325     7.02   0.000     .2622023    .4655382
        dummy2_163 |   .3537077   .0519332     6.81   0.000     .2518421    .4555733
        dummy2_164 |   .3554669   .0503648     7.06   0.000     .2566777    .4542561
        dummy2_165 |   .3519232   .0508321     6.92   0.000     .2522175    .4516289
        dummy2_166 |   .3544938   .0515323     6.88   0.000     .2534146     .455573
        dummy2_167 |   .3698552   .0804588     4.60   0.000     .2120376    .5276728
        dummy2_168 |   .3604559   .0595997     6.05   0.000     .2435527    .4773591
        dummy2_169 |   .3510046   .0503779     6.97   0.000     .2521897    .4498196
        dummy2_170 |   .3512191   .0501109     7.01   0.000      .252928    .4495102
        dummy2_171 |   .3519022   .0500799     7.03   0.000     .2536719    .4501325
        dummy2_172 |   .3531989   .0500885     7.05   0.000     .2549516    .4514462
        dummy2_173 |    .352177   .0500839     7.03   0.000     .2539388    .4504153
        dummy2_174 |   .3503938   .0501639     6.98   0.000     .2519986     .448789
        dummy2_175 |   .3635568   .0504787     7.20   0.000     .2645441    .4625694
        dummy2_176 |   .3536088   .0500917     7.06   0.000     .2553552    .4518623
        dummy2_177 |   1.047266   .0786047    13.32   0.000     .8930852    1.201447
        dummy2_178 |   1.072394   .0959556    11.18   0.000     .8841802    1.260609
        dummy2_179 |   1.053325   .0785839    13.40   0.000     .8991853    1.207465
        dummy2_180 |   1.053332   .0787662    13.37   0.000     .8988341     1.20783
        dummy2_181 |   1.047225   .0785194    13.34   0.000     .8932111    1.201238
        dummy2_182 |   1.046865   .0784665    13.34   0.000     .8929548    1.200774
        dummy2_183 |   1.051996   .0788681    13.34   0.000      .897298    1.206693
        dummy2_184 |   1.060369   .0793489    13.36   0.000     .9047278    1.216009
        dummy2_185 |    1.04555   .0785889    13.30   0.000     .8913997      1.1997
        dummy2_186 |   1.050241   .0784899    13.38   0.000     .8962855    1.204197
        dummy2_187 |   1.046654   .0785137    13.33   0.000     .8926515    1.200656
        dummy2_188 |   1.045311   .0791873    13.20   0.000     .8899877    1.200635
        dummy2_189 |   1.046818   .0805506    13.00   0.000     .8888198    1.204815
        dummy2_190 |   1.052769   .0800976    13.14   0.000     .8956595    1.209878
        dummy2_191 |   1.048229   .0785237    13.35   0.000     .8942075    1.202251
        dummy2_192 |   1.044435   .0785261    13.30   0.000     .8904086    1.198462
        dummy2_193 |   1.047116   .0784775    13.34   0.000     .8931845    1.201047
        dummy2_194 |   1.043717   .0784621    13.30   0.000     .8898153    1.197618
        dummy2_197 |   1.050705   .0784868    13.39   0.000     .8967555    1.204655
        dummy2_198 |   1.044815   .0784479    13.32   0.000     .8909414    1.198688
        dummy2_199 |   .5296977   .0452081    11.72   0.000     .4410233     .618372
        dummy2_200 |   .5430575   .0611419     8.88   0.000     .4231293    .6629856
        dummy2_201 |   .5225327   .0453081    11.53   0.000      .433662    .6114034
        dummy2_202 |   .5283187   .0590656     8.94   0.000     .4124632    .6441742
        dummy2_203 |    .523727   .0450216    11.63   0.000     .4354184    .6120356
        dummy2_204 |   .5215837    .045011    11.59   0.000     .4332959    .6098715
        dummy2_205 |   .5402086   .0500925    10.78   0.000     .4419536    .6384636
        dummy2_206 |   .5227276    .045626    11.46   0.000     .4332334    .6122218
        dummy2_207 |   .5230166    .045935    11.39   0.000     .4329163    .6131169
        dummy2_208 |   .5223678    .045346    11.52   0.000     .4334228    .6113127
        dummy2_209 |   .5226157    .045308    11.53   0.000     .4337453    .6114862
        dummy2_210 |   .5243204   .0455017    11.52   0.000       .43507    .6135708
        dummy2_211 |   .5244975   .0542279     9.67   0.000     .4181309    .6308641
        dummy2_212 |   .5305873    .046885    11.32   0.000     .4386237    .6225509
        dummy2_213 |   .5322474   .0457333    11.64   0.000     .4425429     .621952
        dummy2_214 |   .5252888   .0449713    11.68   0.000     .4370788    .6134988
        dummy2_215 |   .5264999    .044988    11.70   0.000     .4382571    .6147427
        dummy2_216 |   .5291716   .0450083    11.76   0.000     .4408889    .6174542
        dummy2_217 |   .5220365   .0449714    11.61   0.000     .4338265    .6102466
        dummy2_218 |   .5269199   .0449771    11.72   0.000     .4386986    .6151413
        dummy2_219 |   .5247346   .0449517    11.67   0.000     .4365632    .6129061
        dummy2_220 |   .5211465   .0449819    11.59   0.000     .4329157    .6093773
        dummy2_221 |   .0920939   .0453034     2.03   0.042     .0032326    .1809553
        dummy2_222 |   .1033063   .0458577     2.25   0.024     .0133577    .1932549
        dummy2_223 |   .0865969   .0450128     1.92   0.055    -.0016944    .1748882
        dummy2_224 |   .0858777    .047207     1.82   0.069    -.0067174    .1784729
        dummy2_225 |   .0825281   .0453314     1.82   0.069    -.0063881    .1714442
        dummy2_226 |   .0841357   .0448915     1.87   0.061    -.0039177    .1721891
        dummy2_227 |   .1071618   .0465368     2.30   0.021     .0158812    .1984424
        dummy2_228 |   .1025109   .0463787     2.21   0.027     .0115404    .1934814
        dummy2_229 |   .0867344   .0450299     1.93   0.054    -.0015904    .1750593
        dummy2_230 |     .08559   .0449429     1.90   0.057    -.0025641    .1737442
        dummy2_231 |   .0867697   .0451015     1.92   0.055    -.0016956     .175235
        dummy2_232 |   .0872489   .0455015     1.92   0.055    -.0020011    .1764988
        dummy2_233 |   .0900003   .0481232     1.87   0.062    -.0043921    .1843927
        dummy2_234 |   .0838514   .0482143     1.74   0.082    -.0107196    .1784225
        dummy2_235 |   .0839061   .0453522     1.85   0.064     -.005051    .1728631
        dummy2_236 |   .0927717   .0450878     2.06   0.040     .0043332    .1812102
        dummy2_237 |   .0856492    .044853     1.91   0.056    -.0023288    .1736271
        dummy2_238 |   .0891491   .0448932     1.99   0.047     .0010923    .1772059
        dummy2_239 |   .0835337    .044825     1.86   0.063    -.0043894    .1714568
        dummy2_240 |   .0868228   .0448537     1.94   0.053    -.0011566    .1748021
        dummy2_241 |    .109177   .0466421     2.34   0.019     .0176898    .2006642
        dummy2_242 |    .086177   .0448338     1.92   0.055    -.0017633    .1741172
        dummy2_243 |   .0023314   .0438176     0.05   0.958    -.0836156    .0882784
        dummy2_244 |    .028369   .0460568     0.62   0.538    -.0619701    .1187082
        dummy2_245 |   .0047305   .0437619     0.11   0.914    -.0811072    .0905681
        dummy2_246 |   .0005428   .0450519     0.01   0.990    -.0878252    .0889108
        dummy2_247 |  -.0006523   .0437609    -0.01   0.988     -.086488    .0851835
        dummy2_248 |   .0011157   .0437008     0.03   0.980    -.0846023    .0868337
        dummy2_249 |  -.0137703    .058315    -0.24   0.813    -.1281535    .1006129
        dummy2_250 |   .0231697   .0452512     0.51   0.609    -.0655892    .1119286
        dummy2_251 |   .0005128   .0437252     0.01   0.991    -.0852529    .0862785
        dummy2_252 |  -.0008343    .043751    -0.02   0.985    -.0866507    .0849822
        dummy2_253 |   .0014024   .0437456     0.03   0.974    -.0844034    .0872082
        dummy2_254 |   .0002825   .0437967     0.01   0.995    -.0856235    .0861886
        dummy2_255 |   .0037245   .0443636     0.08   0.933    -.0832935    .0907426
        dummy2_256 |  -.0041713   .0453897    -0.09   0.927    -.0932019    .0848593
        dummy2_257 |   -.001783   .0441861    -0.04   0.968    -.0884528    .0848868
        dummy2_258 |   .0178402   .0447077     0.40   0.690    -.0698527    .1055332
        dummy2_259 |   -.000194   .0436964    -0.00   0.996    -.0859033    .0855152
        dummy2_260 |   .0093405   .0439439     0.21   0.832    -.0768542    .0955352
        dummy2_261 |   -.001789   .0436925    -0.04   0.967    -.0874907    .0839127
        dummy2_262 |   .0042799   .0437487     0.10   0.922     -.081532    .0900917
        dummy2_263 |   .0341711   .0470937     0.73   0.468    -.0582019    .1265441
                   |
            per108 |
               L1. |  -.0071738   .0030198    -2.38   0.018     -.013097   -.0012507
                   |
            per403 |
               L1. |  -.0577973   .0032756   -17.64   0.000    -.0642222   -.0513723
                   |
            per404 |
               L1. |  -.0353343   .0071398    -4.95   0.000    -.0493389   -.0213298
                   |
            per505 |
               L1. |   .2404489   .0074594    32.23   0.000     .2258175    .2550803
                   |
             _cons |   .7386834   .0319317    23.13   0.000     .6760502    .8013166
------------------------------------------------------------------------------------
Included instruments: tfpleadershipklems L.tecnogapklems ind_trend L.tradelib
                      y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10 dummy2_1 dummy2_2
                      dummy2_3 dummy2_4 dummy2_5 dummy2_6 dummy2_7 dummy2_8
                      dummy2_9 dummy2_10 dummy2_11 dummy2_12 dummy2_13 dummy2_14
                      dummy2_15 dummy2_16 dummy2_17 dummy2_18 dummy2_19
                      dummy2_20 dummy2_21 dummy2_22 dummy2_23 dummy2_24
                      dummy2_25 dummy2_26 dummy2_27 dummy2_28 dummy2_29
                      dummy2_30 dummy2_31 dummy2_32 dummy2_33 dummy2_34
                      dummy2_35 dummy2_36 dummy2_37 dummy2_38 dummy2_39
                      dummy2_40 dummy2_41 dummy2_42 dummy2_43 dummy2_44
                      dummy2_45 dummy2_47 dummy2_48 dummy2_50 dummy2_51
                      dummy2_52 dummy2_53 dummy2_54 dummy2_55 dummy2_56
                      dummy2_57 dummy2_58 dummy2_59 dummy2_60 dummy2_61
                      dummy2_62 dummy2_63 dummy2_64 dummy2_65 dummy2_66
                      dummy2_67 dummy2_68 dummy2_69 dummy2_70 dummy2_71
                      dummy2_72 dummy2_73 dummy2_74 dummy2_75 dummy2_76
                      dummy2_77 dummy2_78 dummy2_79 dummy2_80 dummy2_81
                      dummy2_82 dummy2_83 dummy2_84 dummy2_85 dummy2_86
                      dummy2_87 dummy2_88 dummy2_89 dummy2_90 dummy2_91
                      dummy2_92 dummy2_93 dummy2_94 dummy2_95 dummy2_96
                      dummy2_97 dummy2_98 dummy2_99 dummy2_100 dummy2_101
                      dummy2_102 dummy2_103 dummy2_104 dummy2_105 dummy2_106
                      dummy2_109 dummy2_111 dummy2_112 dummy2_113 dummy2_114
                      dummy2_115 dummy2_116 dummy2_117 dummy2_118 dummy2_119
                      dummy2_120 dummy2_121 dummy2_122 dummy2_123 dummy2_124
                      dummy2_125 dummy2_126 dummy2_127 dummy2_128 dummy2_129
                      dummy2_130 dummy2_131 dummy2_132 dummy2_133 dummy2_134
                      dummy2_135 dummy2_136 dummy2_137 dummy2_138 dummy2_140
                      dummy2_141 dummy2_142 dummy2_143 dummy2_144 dummy2_145
                      dummy2_146 dummy2_147 dummy2_148 dummy2_149 dummy2_150
                      dummy2_151 dummy2_152 dummy2_153 dummy2_154 dummy2_155
                      dummy2_156 dummy2_157 dummy2_158 dummy2_159 dummy2_160
                      dummy2_161 dummy2_162 dummy2_163 dummy2_164 dummy2_165
                      dummy2_166 dummy2_167 dummy2_168 dummy2_169 dummy2_170
                      dummy2_171 dummy2_172 dummy2_173 dummy2_174 dummy2_175
                      dummy2_176 dummy2_177 dummy2_178 dummy2_179 dummy2_180
                      dummy2_181 dummy2_182 dummy2_183 dummy2_184 dummy2_185
                      dummy2_186 dummy2_187 dummy2_188 dummy2_189 dummy2_190
                      dummy2_191 dummy2_192 dummy2_193 dummy2_194 dummy2_197
                      dummy2_198 dummy2_199 dummy2_200 dummy2_201 dummy2_202
                      dummy2_203 dummy2_204 dummy2_205 dummy2_206 dummy2_207
                      dummy2_208 dummy2_209 dummy2_210 dummy2_211 dummy2_212
                      dummy2_213 dummy2_214 dummy2_215 dummy2_216 dummy2_217
                      dummy2_218 dummy2_219 dummy2_220 dummy2_221 dummy2_222
                      dummy2_223 dummy2_224 dummy2_225 dummy2_226 dummy2_227
                      dummy2_228 dummy2_229 dummy2_230 dummy2_231 dummy2_232
                      dummy2_233 dummy2_234 dummy2_235 dummy2_236 dummy2_237
                      dummy2_238 dummy2_239 dummy2_240 dummy2_241 dummy2_242
                      dummy2_243 dummy2_244 dummy2_245 dummy2_246 dummy2_247
                      dummy2_248 dummy2_249 dummy2_250 dummy2_251 dummy2_252
                      dummy2_253 dummy2_254 dummy2_255 dummy2_256 dummy2_257
                      dummy2_258 dummy2_259 dummy2_260 dummy2_261 dummy2_262
                      dummy2_263 L.per108 L.per403 L.per404 L.per505
------------------------------------------------------------------------------
F test of excluded instruments:
  F(  4,  1574) =   268.56
  Prob > F      =   0.0000
Angrist-Pischke multivariate F test of excluded instruments:
  F(  3,  1574) =   319.72
  Prob > F      =   0.0000



Summary results for first-stage regressions
-------------------------------------------

                                           (Underid)            (Weak id)
Variable     | F(  4,  1574)  P-val | AP Chi-sq(  3) P-val | AP F(  3,  1574)
L.compindex  |      55.17    0.0000 |      231.20   0.0000 |       65.68
L.pmr        |     268.56    0.0000 |     1125.54   0.0000 |      319.72

Stock-Yogo weak ID test critical values for single endogenous regressor:
                                    5% maximal IV relative bias    16.85
                                   10% maximal IV relative bias     9.08
                                   20% maximal IV relative bias     6.46
                                   30% maximal IV relative bias     5.39
                                   10% maximal IV size             22.30
                                   15% maximal IV size             12.83
                                   20% maximal IV size              9.54
                                   25% maximal IV size              7.80
Source: Stock-Yogo (2005).  Reproduced by permission.

Underidentification test
Ho: matrix of reduced form coefficients has rank=K1-1 (underidentified)
Ha: matrix has rank=K1 (identified)
Anderson canon. corr. LM statistic       Chi-sq(3)=211.26   P-val=0.0000

Weak identification test
Ho: equation is weakly identified
Cragg-Donald Wald F statistic                                      50.82

Stock-Yogo weak ID test critical values for K1=2 and L1=4:
                                    5% maximal IV relative bias    11.04
                                   10% maximal IV relative bias     7.56
                                   20% maximal IV relative bias     5.57
                                   30% maximal IV relative bias     4.73
                                   10% maximal IV size             16.87
                                   15% maximal IV size              9.93
                                   20% maximal IV size              7.54
                                   25% maximal IV size              6.28
Source: Stock-Yogo (2005).  Reproduced by permission.

Weak-instrument-robust inference
Tests of joint significance of endogenous regressors B1 in main equation
Ho: B1=0 and orthogonality conditions are valid
Anderson-Rubin Wald test           F(4,1574)=      2.26     P-val=0.0606
Anderson-Rubin Wald test           Chi-sq(4)=     10.61     P-val=0.0313
Stock-Wright LM S statistic        Chi-sq(4)=     10.55     P-val=0.0321

Number of observations               N  =       1847
Number of regressors                 K  =        271
Number of endogenous regressors      K1 =          2
Number of instruments                L  =        273
Number of excluded instruments       L1 =          4

IV (2SLS) estimation
--------------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1847
                                                      F(270,  1576) =     2.12
                                                      Prob > F      =   0.0000
Total (centered) SS     =  8.679659315                Centered R2   =   0.2632
Total (uncentered) SS   =  8.846870444                Uncentered R2 =   0.2771
Residual SS             =  6.395550696                Root MSE      =   .05884

------------------------------------------------------------------------------------
tfpcorrectedover~s |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
         compindex |
               L1. |   .2180487   .1019554     2.14   0.032     .0182197    .4178776
                   |
               pmr |
               L1. |  -.0493221   .0194521    -2.54   0.011    -.0874476   -.0111966
                   |
tfpleadershipklems |   .0640258   .0185816     3.45   0.001     .0276065    .1004451
                   |
     tecnogapklems |
               L1. |    .007218   .0040075     1.80   0.072    -.0006366    .0150727
                   |
         ind_trend |   .0484765   .0237475     2.04   0.041     .0019322    .0950208
                   |
          tradelib |
               L1. |   .0146258   .0036091     4.05   0.000     .0075521    .0216994
                   |
               y_2 |   .0365479   .0179595     2.04   0.042     .0013479    .0717478
               y_3 |   .0387112   .0165651     2.34   0.019     .0062442    .0711782
               y_4 |   .0151734   .0168459     0.90   0.368    -.0178439    .0481908
               y_5 |   .0413501   .0166388     2.49   0.013     .0087387    .0739615
               y_6 |   .0380729   .0127031     3.00   0.003     .0131753    .0629705
               y_7 |   .0052201    .010755     0.49   0.627    -.0158594    .0262995
               y_8 |    .007382   .0098011     0.75   0.451    -.0118277    .0265918
               y_9 |   .0083506   .0090551     0.92   0.356     -.009397    .0260983
              y_10 |   .0114573   .0065425     1.75   0.080    -.0013658    .0242803
          dummy2_1 |   .0173399   .0393276     0.44   0.659    -.0597408    .0944206
          dummy2_2 |  -.0402631   .0396426    -1.02   0.310    -.1179613    .0374351
          dummy2_3 |   .0304232   .0391705     0.78   0.437    -.0463495    .1071958
          dummy2_4 |   .0022746   .0397101     0.06   0.954    -.0755558    .0801051
          dummy2_5 |   .0244577   .0391465     0.62   0.532    -.0522679    .1011833
          dummy2_6 |    .080134   .0392631     2.04   0.041     .0031798    .1570882
          dummy2_7 |   .0052131   .0401296     0.13   0.897    -.0734395    .0838657
          dummy2_8 |   .0248095   .0401351     0.62   0.536    -.0538539    .1034729
          dummy2_9 |   .0014384   .0393831     0.04   0.971    -.0757511    .0786279
         dummy2_10 |   .0230712   .0393077     0.59   0.557    -.0539705    .1001129
         dummy2_11 |   .0389927   .0393196     0.99   0.321    -.0380722    .1160577
         dummy2_12 |   .0036974   .0405829     0.09   0.927    -.0758437    .0832385
         dummy2_13 |  -.0117743   .0508109    -0.23   0.817    -.1113618    .0878132
         dummy2_14 |  -.0068308   .0468511    -0.15   0.884    -.0986572    .0849956
         dummy2_15 |   .0270933   .0393273     0.69   0.491    -.0499867    .1041734
         dummy2_16 |    .010191   .0392646     0.26   0.795    -.0667663    .0871483
         dummy2_17 |   .0343693   .0392241     0.88   0.381    -.0425085    .1112471
         dummy2_18 |   .0314359   .0394334     0.80   0.425    -.0458522    .1087239
         dummy2_19 |   .0487397   .0391919     1.24   0.214     -.028075    .1255544
         dummy2_20 |   .0206466   .0392742     0.53   0.599    -.0563293    .0976226
         dummy2_21 |  -.0084586   .0400127    -0.21   0.833    -.0868821     .069965
         dummy2_22 |   .0209146   .0393577     0.53   0.595    -.0562252    .0980543
         dummy2_23 |   .1505472   .0425227     3.54   0.000     .0672042    .2338902
         dummy2_24 |   .0715967   .0436691     1.64   0.101    -.0139931    .1571866
         dummy2_25 |   .0734474   .0424177     1.73   0.083    -.0096897    .1565846
         dummy2_26 |    .108985   .0431469     2.53   0.012     .0244186    .1935515
         dummy2_27 |   .1340352   .0425627     3.15   0.002     .0506138    .2174566
         dummy2_28 |   .0846634   .0427057     1.98   0.047     .0009617    .1683651
         dummy2_29 |   .0986421   .0469627     2.10   0.036     .0065969    .1906872
         dummy2_30 |   .0517912   .0437875     1.18   0.237    -.0340306    .1376131
         dummy2_31 |   .1085487    .042467     2.56   0.011     .0253148    .1917825
         dummy2_32 |   .1419127   .0425813     3.33   0.001     .0584549    .2253705
         dummy2_33 |   .0767766   .0426686     1.80   0.072    -.0068523    .1604055
         dummy2_34 |   .1272307   .0428022     2.97   0.003     .0433399    .2111214
         dummy2_35 |   .0727997   .0439571     1.66   0.098    -.0133546    .1589539
         dummy2_36 |   .0501399   .0446216     1.12   0.261    -.0373168    .1375966
         dummy2_37 |   .0886834   .0426957     2.08   0.038     .0050014    .1723655
         dummy2_38 |   .1031539     .04329     2.38   0.017      .018307    .1880008
         dummy2_39 |   .0804998   .0425385     1.89   0.058     -.002874    .1638737
         dummy2_40 |   .0339767    .042514     0.80   0.424    -.0493493    .1173026
         dummy2_41 |   .0742547   .0422761     1.76   0.079     -.008605    .1571144
         dummy2_42 |   .0585839   .0425955     1.38   0.169    -.0249018    .1420696
         dummy2_43 |   .0821082   .0432612     1.90   0.058    -.0026822    .1668986
         dummy2_44 |   .0975456   .0424394     2.30   0.022     .0143659    .1807253
         dummy2_45 |   .1342067    .056338     2.38   0.017     .0237863     .244627
         dummy2_47 |   .0831435   .0562575     1.48   0.139    -.0271192    .1934063
         dummy2_48 |   .1191391   .0510238     2.33   0.020     .0191342    .2191441
         dummy2_50 |   .1089034   .0505225     2.16   0.031     .0098811    .2079257
         dummy2_51 |  -.1614682   .0700009    -2.31   0.021    -.2986674   -.0242691
         dummy2_52 |   .0796511   .0565864     1.41   0.159    -.0312562    .1905583
         dummy2_53 |   .1472184   .0561648     2.62   0.009     .0371374    .2572995
         dummy2_54 |   .1006352   .0561951     1.79   0.073    -.0095051    .2107755
         dummy2_55 |   .1066718   .0561637     1.90   0.058     -.003407    .2167506
         dummy2_56 |   .1408009   .0562891     2.50   0.012     .0304762    .2511255
         dummy2_57 |   .1151426   .0508652     2.26   0.024     .0154486    .2148365
         dummy2_58 |   .0624736   .0508998     1.23   0.220    -.0372882    .1622354
         dummy2_59 |    .123511   .0562519     2.20   0.028     .0132593    .2337627
         dummy2_60 |   .2090269   .0563946     3.71   0.000     .0984955    .3195583
         dummy2_61 |   .1064045   .0561962     1.89   0.058     -.003738     .216547
         dummy2_62 |   .1152056   .0561893     2.05   0.040     .0050766    .2253347
         dummy2_63 |   .0973841   .0561704     1.73   0.083    -.0127078     .207476
         dummy2_64 |    .226058   .0562784     4.02   0.000     .1157542    .3363617
         dummy2_65 |   .0790719   .0564196     1.40   0.161    -.0315085    .1896524
         dummy2_66 |   .1049103   .0505007     2.08   0.038     .0059308    .2038899
         dummy2_67 |   .0854992   .0310902     2.75   0.006     .0245636    .1464347
         dummy2_68 |  -.0370521   .0363544    -1.02   0.308    -.1083055    .0342012
         dummy2_69 |   .0506347   .0310968     1.63   0.103    -.0103138    .1115833
         dummy2_70 |    .035137   .0329952     1.06   0.287    -.0295324    .0998063
         dummy2_71 |   .0797242    .030874     2.58   0.010     .0192122    .1402362
         dummy2_72 |   .0551775   .0308887     1.79   0.074    -.0053632    .1157182
         dummy2_73 |  -.0101023   .0405066    -0.25   0.803    -.0894938    .0692892
         dummy2_74 |   .0791099   .0315603     2.51   0.012     .0172529    .1409669
         dummy2_75 |   .0693937   .0308798     2.25   0.025     .0088704    .1299171
         dummy2_76 |   .0718918   .0309078     2.33   0.020     .0113135      .13247
         dummy2_77 |   .0609461   .0308765     1.97   0.048     .0004292    .1214629
         dummy2_78 |   .0624905   .0308696     2.02   0.043     .0019873    .1229937
         dummy2_79 |   .0787682   .0312858     2.52   0.012     .0174492    .1400871
         dummy2_80 |    .072913   .0317359     2.30   0.022     .0107118    .1351142
         dummy2_81 |    .044167   .0309982     1.42   0.154    -.0165883    .1049224
         dummy2_82 |   .0923324   .0313156     2.95   0.003     .0309549    .1537098
         dummy2_83 |   .0612942    .030875     1.99   0.047     .0007803    .1218082
         dummy2_84 |   .0591279    .031007     1.91   0.057    -.0016446    .1199005
         dummy2_85 |   .0797473   .0308614     2.58   0.010     .0192601    .1402346
         dummy2_86 |   .1170553   .0308625     3.79   0.000      .056566    .1775447
         dummy2_87 |   .0347947   .0319706     1.09   0.276    -.0278665     .097456
         dummy2_88 |   -.006334   .0308392    -0.21   0.837    -.0667778    .0541097
         dummy2_89 |   .1453282   .0376562     3.86   0.000     .0715233     .219133
         dummy2_90 |   .0051011    .056558     0.09   0.928    -.1057506    .1159528
         dummy2_91 |   .0270364   .0520506     0.52   0.603     -.074981    .1290537
         dummy2_92 |   .1136001   .0530214     2.14   0.032     .0096801    .2175201
         dummy2_93 |   .1048581   .0521824     2.01   0.044     .0025825    .2071337
         dummy2_94 |   .1085819   .0522459     2.08   0.038     .0061818    .2109819
         dummy2_95 |    .293149   .0670438     4.37   0.000     .1617455    .4245525
         dummy2_96 |   .0611348   .0530125     1.15   0.249    -.0427677    .1650373
         dummy2_97 |   .1347995   .0529688     2.54   0.011     .0309827    .2386164
         dummy2_98 |   .0282015   .0520298     0.54   0.588     -.073775     .130178
         dummy2_99 |  -.0301231   .0527372    -0.57   0.568    -.1334861      .07324
        dummy2_100 |    .145981   .0546233     2.67   0.008     .0389213    .2530407
        dummy2_101 |   .0311689   .0548546     0.57   0.570     -.076344    .1386819
        dummy2_102 |  -.1416812   .0530367    -2.67   0.008    -.2456311   -.0377312
        dummy2_103 |   .1737732   .0526005     3.30   0.001     .0706782    .2768682
        dummy2_104 |   .0792714   .0411427     1.93   0.054    -.0013669    .1599097
        dummy2_105 |   .1061894   .0376171     2.82   0.005     .0324613    .1799175
        dummy2_106 |   .0648079   .0377011     1.72   0.086    -.0090849    .1387007
        dummy2_109 |   .1343913    .038678     3.47   0.001     .0585839    .2101987
        dummy2_111 |   .1110347   .0432257     2.57   0.010     .0263138    .1957556
        dummy2_112 |   .0535688   .0440626     1.22   0.224    -.0327923    .1399299
        dummy2_113 |     .07844   .0431846     1.82   0.069    -.0062003    .1630803
        dummy2_114 |   .0773297   .0431203     1.79   0.073    -.0071846     .161844
        dummy2_115 |   .1150207   .0430426     2.67   0.008     .0306589    .1993826
        dummy2_116 |   .0879141   .0430208     2.04   0.041     .0035949    .1722333
        dummy2_117 |   .0279151   .0457345     0.61   0.542    -.0617228    .1175531
        dummy2_118 |   .0830272   .0439055     1.89   0.059     -.003026    .1690805
        dummy2_119 |   .0963111   .0430313     2.24   0.025     .0119714    .1806508
        dummy2_120 |   .1032122    .043123     2.39   0.017     .0186927    .1877318
        dummy2_121 |     .09393   .0430908     2.18   0.029     .0094735    .1783865
        dummy2_122 |   .0842742   .0430739     1.96   0.050    -.0001491    .1686975
        dummy2_123 |   .0664824   .0433488     1.53   0.125    -.0184797    .1514444
        dummy2_124 |   .0571292   .0442956     1.29   0.197    -.0296886    .1439471
        dummy2_125 |   .1007779   .0430701     2.34   0.019      .016362    .1851937
        dummy2_126 |   .1068055   .0433243     2.47   0.014     .0218914    .1917196
        dummy2_127 |   .0888538   .0430321     2.06   0.039     .0045126    .1731951
        dummy2_128 |   .0870302   .0431557     2.02   0.044     .0024465    .1716138
        dummy2_129 |   .1028857   .0429083     2.40   0.016     .0187869    .1869845
        dummy2_130 |   .1720946   .0429163     4.01   0.000     .0879802     .256209
        dummy2_131 |   .1153683    .043634     2.64   0.008     .0298473    .2008894
        dummy2_132 |   .1098768   .0429838     2.56   0.011     .0256301    .1941235
        dummy2_133 |   .0440839   .0416725     1.06   0.290    -.0375927    .1257604
        dummy2_134 |  -.0586739   .0581841    -1.01   0.313    -.1727125    .0553648
        dummy2_135 |  -.0223072   .0501757    -0.44   0.657    -.1206497    .0760353
        dummy2_136 |   .0217816   .0393045     0.55   0.579    -.0552538     .098817
        dummy2_137 |   .0541138   .0388541     1.39   0.164    -.0220389    .1302664
        dummy2_138 |   .0325623   .0421316     0.77   0.440     -.050014    .1151386
        dummy2_140 |   .0177686   .0431324     0.41   0.680    -.0667693    .1023065
        dummy2_141 |   .0795696   .0394032     2.02   0.043     .0023408    .1567984
        dummy2_142 |   .0676746   .0391274     1.73   0.084    -.0090138     .144363
        dummy2_143 |   .0257634   .0468193     0.55   0.582    -.0660008    .1175276
        dummy2_144 |   .0328704   .0441009     0.75   0.456    -.0535659    .1193067
        dummy2_145 |    .017654   .0587087     0.30   0.764    -.0974129    .1327208
        dummy2_146 |   .0410785   .0458873     0.90   0.371    -.0488589     .131016
        dummy2_147 |   .0710867   .0389548     1.82   0.068    -.0052633    .1474366
        dummy2_148 |   .0420144   .0457008     0.92   0.358    -.0475575    .1315864
        dummy2_149 |  -.0911864   .0896356    -1.02   0.309    -.2668689    .0844961
        dummy2_150 |   .0112824   .0502293     0.22   0.822    -.0871652    .1097301
        dummy2_151 |  -.0141765   .0620927    -0.23   0.819     -.135876     .107523
        dummy2_152 |   .0490765   .0445054     1.10   0.270    -.0381525    .1363056
        dummy2_153 |  -.0870547   .0769943    -1.13   0.258    -.2379607    .0638513
        dummy2_154 |  -.0854183   .0943229    -0.91   0.365    -.2702877    .0994511
        dummy2_155 |   .0310167   .0330717     0.94   0.348    -.0338026    .0958361
        dummy2_156 |   .0714402   .0645785     1.11   0.269    -.0551313    .1980118
        dummy2_157 |   .0573428   .0330154     1.74   0.082    -.0073662    .1220518
        dummy2_158 |  -.0220412   .0402053    -0.55   0.584    -.1008421    .0567598
        dummy2_159 |   .0131981   .0334922     0.39   0.694    -.0524455    .0788417
        dummy2_160 |   .0572111   .0329084     1.74   0.082    -.0072883    .1217104
        dummy2_161 |   .1578504   .0374019     4.22   0.000     .0845441    .2311567
        dummy2_162 |   .0660373   .0337877     1.95   0.051    -.0001855      .13226
        dummy2_163 |   .0285067   .0337443     0.84   0.398    -.0376309    .0946444
        dummy2_164 |   .0562088   .0330068     1.70   0.089    -.0084833    .1209009
        dummy2_165 |   .0497726   .0331867     1.50   0.134    -.0152721    .1148173
        dummy2_166 |   .0519853   .0335531     1.55   0.121    -.0137776    .1177483
        dummy2_167 |  -.0912247   .0498489    -1.83   0.067    -.1889267    .0064773
        dummy2_168 |   .0127176   .0377692     0.34   0.736    -.0613086    .0867439
        dummy2_169 |   .0502843   .0329759     1.52   0.127    -.0143472    .1149158
        dummy2_170 |   .0935211    .032897     2.84   0.004     .0290441    .1579981
        dummy2_171 |   .0454556   .0328717     1.38   0.167    -.0189717     .109883
        dummy2_172 |   .0432913    .032876     1.32   0.188    -.0211445    .1077271
        dummy2_173 |   .0605639   .0328792     1.84   0.065    -.0038781     .125006
        dummy2_174 |   .1329342   .0329382     4.04   0.000     .0683765     .197492
        dummy2_175 |   .0599396   .0331869     1.81   0.071    -.0051056    .1249848
        dummy2_176 |   .0447651   .0328867     1.36   0.173    -.0196916    .1092217
        dummy2_177 |   .0949735   .0561592     1.69   0.091    -.0150966    .2050435
        dummy2_178 |  -.0306141   .0646113    -0.47   0.636      -.15725    .0960217
        dummy2_179 |   .1181802   .0560858     2.11   0.035     .0082541    .2281064
        dummy2_180 |    .097875   .0561469     1.74   0.081     -.012171    .2079209
        dummy2_181 |   .0648102   .0560131     1.16   0.247    -.0449734    .1745939
        dummy2_182 |   .1155404   .0559948     2.06   0.039     .0057926    .2252881
        dummy2_183 |   .0635557   .0561125     1.13   0.257    -.0464229    .1735342
        dummy2_184 |   .0716704   .0564718     1.27   0.204    -.0390123    .1823531
        dummy2_185 |   .1018791   .0559971     1.82   0.069    -.0078733    .2116315
        dummy2_186 |   .1023687   .0560781     1.83   0.068    -.0075423    .2122797
        dummy2_187 |   .1095375   .0560021     1.96   0.050    -.0002247    .2192997
        dummy2_188 |   .0755783   .0561932     1.34   0.179    -.0345583    .1857149
        dummy2_189 |   .0731048   .0568233     1.29   0.198    -.0382668    .1844764
        dummy2_190 |   .0446506   .0566658     0.79   0.431    -.0664122    .1557135
        dummy2_191 |   .0835226   .0560518     1.49   0.136    -.0263369    .1933822
        dummy2_192 |   .1300501   .0560929     2.32   0.020       .02011    .2399902
        dummy2_193 |   .0850707   .0560721     1.52   0.129    -.0248285      .19497
        dummy2_194 |   .0734257   .0559823     1.31   0.190    -.0362977     .183149
        dummy2_197 |   .1518315   .0560838     2.71   0.007     .0419091    .2617538
        dummy2_198 |   .0908816   .0559998     1.62   0.105     -.018876    .2006392
        dummy2_199 |   .0281278   .0279265     1.01   0.314    -.0266071    .0828627
        dummy2_200 |  -.0833515   .0377439    -2.21   0.027    -.1573281   -.0093748
        dummy2_201 |  -.0078774   .0280011    -0.28   0.778    -.0627587    .0470038
        dummy2_202 |  -.0720899   .0363728    -1.98   0.047    -.1433793   -.0008005
        dummy2_203 |   .0487319    .027796     1.75   0.080    -.0057473     .103211
        dummy2_204 |   .0165721   .0277805     0.60   0.551    -.0378766    .0710208
        dummy2_205 |  -.0313074   .0311167    -1.01   0.314     -.092295    .0296802
        dummy2_206 |  -.0099769    .028212    -0.35   0.724    -.0652714    .0453176
        dummy2_207 |   .0020401   .0283978     0.07   0.943    -.0536185    .0576988
        dummy2_208 |   .0221063   .0279999     0.79   0.430    -.0327724     .076985
        dummy2_209 |  -.0124934   .0279993    -0.45   0.655     -.067371    .0423842
        dummy2_210 |   .0146186   .0281328     0.52   0.603    -.0405207    .0697579
        dummy2_211 |   .0964168   .0336373     2.87   0.004     .0304888    .1623448
        dummy2_212 |    .022013   .0289644     0.76   0.447     -.034756    .0787821
        dummy2_213 |   .0503923   .0283065     1.78   0.075    -.0050875    .1058721
        dummy2_214 |   .0017199   .0277653     0.06   0.951    -.0526991    .0561389
        dummy2_215 |   .0096467   .0277819     0.35   0.728    -.0448048    .0640982
        dummy2_216 |   .0269241   .0278236     0.97   0.333    -.0276092    .0814573
        dummy2_217 |   .0118654   .0277556     0.43   0.669    -.0425347    .0662655
        dummy2_218 |   .0495916   .0277819     1.79   0.074      -.00486    .1040432
        dummy2_219 |   .0011692   .0277711     0.04   0.966    -.0532612    .0555995
        dummy2_220 |   .0021534   .0277714     0.08   0.938    -.0522775    .0565843
        dummy2_221 |    .043904   .0308047     1.43   0.154    -.0164721      .10428
        dummy2_222 |   .0075773   .0311023     0.24   0.808    -.0533821    .0685366
        dummy2_223 |   .0260799   .0305896     0.85   0.394    -.0338746    .0860343
        dummy2_224 |   .0267645   .0316352     0.85   0.398    -.0352394    .0887684
        dummy2_225 |    .018116   .0307296     0.59   0.556     -.042113    .0783449
        dummy2_226 |   .0347921   .0305582     1.14   0.255    -.0251007     .094685
        dummy2_227 |      .0075   .0313453     0.24   0.811    -.0539357    .0689356
        dummy2_228 |    .026136   .0312804     0.84   0.403    -.0351725    .0874446
        dummy2_229 |   .0290412   .0306068     0.95   0.343     -.030947    .0890293
        dummy2_230 |   .0584396    .030604     1.91   0.056    -.0015432    .1184223
        dummy2_231 |   .0498087   .0306298     1.63   0.104    -.0102245    .1098419
        dummy2_232 |     .04051   .0308055     1.32   0.189    -.0198677    .1008877
        dummy2_233 |   .0176444   .0321434     0.55   0.583    -.0453555    .0806442
        dummy2_234 |   .0187992   .0318041     0.59   0.554    -.0435357    .0811342
        dummy2_235 |   .0206756    .030755     0.67   0.501    -.0396031    .0809543
        dummy2_236 |   .0462302   .0307254     1.50   0.132    -.0139905    .1064509
        dummy2_237 |   .0456719   .0305879     1.49   0.135    -.0142792     .105623
        dummy2_238 |   .0371854   .0305907     1.22   0.224    -.0227712     .097142
        dummy2_239 |   .0609805   .0305554     2.00   0.046     .0010931    .1208679
        dummy2_240 |   .0921383   .0305792     3.01   0.003     .0322041    .1520725
        dummy2_241 |   .0432659   .0315756     1.37   0.171    -.0186212     .105153
        dummy2_242 |    .037787   .0305626     1.24   0.216    -.0221147    .0976886
        dummy2_243 |   .0334315   .0263978     1.27   0.205    -.0183073    .0851704
        dummy2_244 |  -.0388829   .0277518    -1.40   0.161    -.0932754    .0155095
        dummy2_245 |   .0250892   .0263642     0.95   0.341    -.0265836     .076762
        dummy2_246 |   .0388835   .0271423     1.43   0.152    -.0143145    .0920815
        dummy2_247 |   .0147635   .0263635     0.56   0.575    -.0369079    .0664349
        dummy2_248 |   .0395935   .0263273     1.50   0.133     -.012007     .091194
        dummy2_249 |   .0845262    .035125     2.41   0.016     .0156824    .1533699
        dummy2_250 |    .008341   .0272652     0.31   0.760    -.0450978    .0617798
        dummy2_251 |   .0406473   .0263419     1.54   0.123    -.0109819    .0922765
        dummy2_252 |   .0313752   .0263575     1.19   0.234    -.0202846     .083035
        dummy2_253 |   .0392915   .0263542     1.49   0.136    -.0123619    .0909448
        dummy2_254 |   .0363487   .0263851     1.38   0.168    -.0153652    .0880625
        dummy2_255 |   .1273971   .0267265     4.77   0.000     .0750142      .17978
        dummy2_256 |   .0539758   .0273443     1.97   0.048     .0003819    .1075696
        dummy2_257 |   .0394119     .02662     1.48   0.139    -.0127624    .0915861
        dummy2_258 |   .0147463   .0269368     0.55   0.584    -.0380488    .0675414
        dummy2_259 |  -.0087961   .0263246    -0.33   0.738    -.0603914    .0427992
        dummy2_260 |   .0130395   .0264744     0.49   0.622    -.0388494    .0649285
        dummy2_261 |   .0254982   .0263223     0.97   0.333    -.0260925    .0770889
        dummy2_262 |   .0288022   .0263563     1.09   0.274    -.0228551    .0804596
        dummy2_263 |   .0034586   .0283807     0.12   0.903    -.0521666    .0590838
             _cons |  -.1079692   .0645969    -1.67   0.095    -.2345768    .0186384
------------------------------------------------------------------------------------
Underidentification test (Anderson canon. corr. LM statistic):         211.264
                                                   Chi-sq(3) P-val =    0.0000
------------------------------------------------------------------------------
Weak identification test (Cragg-Donald Wald F statistic):               50.823
Stock-Yogo weak ID test critical values:  5% maximal IV relative bias    11.04
                                         10% maximal IV relative bias     7.56
                                         20% maximal IV relative bias     5.57
                                         30% maximal IV relative bias     4.73
                                         10% maximal IV size             16.87
                                         15% maximal IV size              9.93
                                         20% maximal IV size              7.54
                                         25% maximal IV size              6.28
Source: Stock-Yogo (2005).  Reproduced by permission.
------------------------------------------------------------------------------
Sargan statistic (overidentification test of all instruments):           2.187
                                                   Chi-sq(2) P-val =    0.3350
------------------------------------------------------------------------------
Instrumented:         L.compindex L.pmr
Included instruments: tfpleadershipklems L.tecnogapklems ind_trend L.tradelib
                      y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10 dummy2_1 dummy2_2
                      dummy2_3 dummy2_4 dummy2_5 dummy2_6 dummy2_7 dummy2_8
                      dummy2_9 dummy2_10 dummy2_11 dummy2_12 dummy2_13 dummy2_14
                      dummy2_15 dummy2_16 dummy2_17 dummy2_18 dummy2_19
                      dummy2_20 dummy2_21 dummy2_22 dummy2_23 dummy2_24
                      dummy2_25 dummy2_26 dummy2_27 dummy2_28 dummy2_29
                      dummy2_30 dummy2_31 dummy2_32 dummy2_33 dummy2_34
                      dummy2_35 dummy2_36 dummy2_37 dummy2_38 dummy2_39
                      dummy2_40 dummy2_41 dummy2_42 dummy2_43 dummy2_44
                      dummy2_45 dummy2_47 dummy2_48 dummy2_50 dummy2_51
                      dummy2_52 dummy2_53 dummy2_54 dummy2_55 dummy2_56
                      dummy2_57 dummy2_58 dummy2_59 dummy2_60 dummy2_61
                      dummy2_62 dummy2_63 dummy2_64 dummy2_65 dummy2_66
                      dummy2_67 dummy2_68 dummy2_69 dummy2_70 dummy2_71
                      dummy2_72 dummy2_73 dummy2_74 dummy2_75 dummy2_76
                      dummy2_77 dummy2_78 dummy2_79 dummy2_80 dummy2_81
                      dummy2_82 dummy2_83 dummy2_84 dummy2_85 dummy2_86
                      dummy2_87 dummy2_88 dummy2_89 dummy2_90 dummy2_91
                      dummy2_92 dummy2_93 dummy2_94 dummy2_95 dummy2_96
                      dummy2_97 dummy2_98 dummy2_99 dummy2_100 dummy2_101
                      dummy2_102 dummy2_103 dummy2_104 dummy2_105 dummy2_106
                      dummy2_109 dummy2_111 dummy2_112 dummy2_113 dummy2_114
                      dummy2_115 dummy2_116 dummy2_117 dummy2_118 dummy2_119
                      dummy2_120 dummy2_121 dummy2_122 dummy2_123 dummy2_124
                      dummy2_125 dummy2_126 dummy2_127 dummy2_128 dummy2_129
                      dummy2_130 dummy2_131 dummy2_132 dummy2_133 dummy2_134
                      dummy2_135 dummy2_136 dummy2_137 dummy2_138 dummy2_140
                      dummy2_141 dummy2_142 dummy2_143 dummy2_144 dummy2_145
                      dummy2_146 dummy2_147 dummy2_148 dummy2_149 dummy2_150
                      dummy2_151 dummy2_152 dummy2_153 dummy2_154 dummy2_155
                      dummy2_156 dummy2_157 dummy2_158 dummy2_159 dummy2_160
                      dummy2_161 dummy2_162 dummy2_163 dummy2_164 dummy2_165
                      dummy2_166 dummy2_167 dummy2_168 dummy2_169 dummy2_170
                      dummy2_171 dummy2_172 dummy2_173 dummy2_174 dummy2_175
                      dummy2_176 dummy2_177 dummy2_178 dummy2_179 dummy2_180
                      dummy2_181 dummy2_182 dummy2_183 dummy2_184 dummy2_185
                      dummy2_186 dummy2_187 dummy2_188 dummy2_189 dummy2_190
                      dummy2_191 dummy2_192 dummy2_193 dummy2_194 dummy2_197
                      dummy2_198 dummy2_199 dummy2_200 dummy2_201 dummy2_202
                      dummy2_203 dummy2_204 dummy2_205 dummy2_206 dummy2_207
                      dummy2_208 dummy2_209 dummy2_210 dummy2_211 dummy2_212
                      dummy2_213 dummy2_214 dummy2_215 dummy2_216 dummy2_217
                      dummy2_218 dummy2_219 dummy2_220 dummy2_221 dummy2_222
                      dummy2_223 dummy2_224 dummy2_225 dummy2_226 dummy2_227
                      dummy2_228 dummy2_229 dummy2_230 dummy2_231 dummy2_232
                      dummy2_233 dummy2_234 dummy2_235 dummy2_236 dummy2_237
                      dummy2_238 dummy2_239 dummy2_240 dummy2_241 dummy2_242
                      dummy2_243 dummy2_244 dummy2_245 dummy2_246 dummy2_247
                      dummy2_248 dummy2_249 dummy2_250 dummy2_251 dummy2_252
                      dummy2_253 dummy2_254 dummy2_255 dummy2_256 dummy2_257
                      dummy2_258 dummy2_259 dummy2_260 dummy2_261 dummy2_262
                      dummy2_263
Excluded instruments: L.per108 L.per403 L.per404 L.per505
Dropped collinear:    y_1 y_11 dummy2_46 dummy2_49 dummy2_107 dummy2_108
                      dummy2_110 dummy2_139 dummy2_195 dummy2_196 dummy2_264
------------------------------------------------------------------------------

. *ivendog
. eststo table4_2

. ivreg2 tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.pmr  y_*  dummy*  ( l.CPIequal = l.
> per108 l.per403 l.per404 l.per505)  if tfpcorrectedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & p
> cmpoolklems<3, first
Warning - collinearities detected
Vars dropped:       y_1 y_11 dummy2_46 dummy2_49 dummy2_107 dummy2_108
                    dummy2_110 dummy2_139 dummy2_195 dummy2_196 dummy2_264

First-stage regressions
-----------------------

First-stage regression of L.CPIequalw:

OLS estimation
--------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1847
                                                      F(273,  1573) =    45.30
                                                      Prob > F      =   0.0000
Total (centered) SS     =  20.40347091                Centered R2   =   0.8871
Total (uncentered) SS   =  354.3365143                Uncentered R2 =   0.9935
Residual SS             =  2.302555765                Root MSE      =   .03826

------------------------------------------------------------------------------------
       L.CPIequalw |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0131576   .0120589     1.09   0.275    -.0104957    .0368109
                   |
     tecnogapklems |
               L1. |   .0011495   .0026025     0.44   0.659    -.0039552    .0062543
                   |
         ind_trend |   -.029214    .015419    -1.89   0.058    -.0594579    .0010299
                   |
          tradelib |
               L1. |  -.0026489   .0023437    -1.13   0.259     -.007246    .0019483
                   |
               pmr |
               L1. |   .0437127    .009873     4.43   0.000     .0243471    .0630783
                   |
               y_2 |  -.0604147   .0070479    -8.57   0.000     -.074239   -.0465905
               y_3 |  -.0431407   .0072884    -5.92   0.000    -.0574367   -.0288446
               y_4 |  -.0531871   .0074031    -7.18   0.000     -.067708   -.0386662
               y_5 |  -.0817825   .0070357   -11.62   0.000    -.0955828   -.0679822
               y_6 |  -.0900583   .0053481   -16.84   0.000    -.1005483   -.0795682
               y_7 |  -.0683896   .0051849   -13.19   0.000    -.0785596   -.0582195
               y_8 |  -.0496367   .0050018    -9.92   0.000    -.0594477   -.0398258
               y_9 |  -.0240332   .0049439    -4.86   0.000    -.0337305   -.0143358
              y_10 |  -.0050185   .0041881    -1.20   0.231    -.0132335    .0031964
          dummy2_1 |  -.0130892    .025387    -0.52   0.606     -.062885    .0367067
          dummy2_2 |  -.0134128    .025589    -0.52   0.600    -.0636049    .0367794
          dummy2_3 |  -.0103074   .0253025    -0.41   0.684    -.0599375    .0393228
          dummy2_4 |      -.008   .0256688    -0.31   0.755    -.0583487    .0423486
          dummy2_5 |  -.0117228    .025278    -0.46   0.643    -.0613049    .0378593
          dummy2_6 |  -.0115273   .0253544    -0.45   0.649    -.0612593    .0382047
          dummy2_7 |  -.0084755   .0259361    -0.33   0.744    -.0593484    .0423975
          dummy2_8 |  -.0070512   .0259504    -0.27   0.786    -.0579522    .0438497
          dummy2_9 |  -.0091851   .0254479    -0.36   0.718    -.0591004    .0407303
         dummy2_10 |  -.0101486   .0253929    -0.40   0.689    -.0599562     .039659
         dummy2_11 |  -.0095018   .0254045    -0.37   0.708     -.059332    .0403284
         dummy2_12 |  -.0038684   .0262633    -0.15   0.883    -.0553832    .0476463
         dummy2_13 |    .009427   .0329968     0.29   0.775    -.0552953    .0741494
         dummy2_14 |  -.0112343   .0303408    -0.37   0.711     -.070747    .0482783
         dummy2_15 |  -.0093924   .0254107    -0.37   0.712    -.0592348      .04045
         dummy2_16 |  -.0131328   .0253455    -0.52   0.604    -.0628473    .0365818
         dummy2_17 |  -.0124532   .0253234    -0.49   0.623    -.0621243     .037218
         dummy2_18 |  -.0126426   .0254578    -0.50   0.620    -.0625773    .0372921
         dummy2_19 |  -.0124007   .0253029    -0.49   0.624    -.0620317    .0372303
         dummy2_20 |  -.0135199   .0253495    -0.53   0.594    -.0632421    .0362024
         dummy2_21 |  -.0134354   .0258295    -0.52   0.603    -.0640992    .0372284
         dummy2_22 |  -.0123636   .0254104    -0.49   0.627    -.0622055    .0374783
         dummy2_23 |  -.2233395   .0229437    -9.73   0.000     -.268343   -.1783359
         dummy2_24 |  -.2181382   .0239198    -9.12   0.000    -.2650563     -.17122
         dummy2_25 |  -.2213995   .0229191    -9.66   0.000    -.2663547   -.1764443
         dummy2_26 |  -.2193697   .0235189    -9.33   0.000    -.2655013   -.1732381
         dummy2_27 |  -.2227013   .0229788    -9.69   0.000    -.2677736   -.1776289
         dummy2_28 |  -.2209185   .0234776    -9.41   0.000    -.2669692   -.1748679
         dummy2_29 |  -.2017367    .027511    -7.33   0.000    -.2556989   -.1477745
         dummy2_30 |  -.2150918   .0241426    -8.91   0.000    -.2624468   -.1677367
         dummy2_31 |   -.203886   .0238736    -8.54   0.000    -.2507134   -.1570585
         dummy2_32 |  -.2227218   .0229947    -9.69   0.000    -.2678253   -.1776182
         dummy2_33 |  -.2196836   .0231562    -9.49   0.000    -.2651038   -.1742634
         dummy2_34 |  -.2201822   .0232319    -9.48   0.000     -.265751   -.1746134
         dummy2_35 |  -.2016121   .0250406    -8.05   0.000    -.2507285   -.1524957
         dummy2_36 |  -.2056556   .0250255    -8.22   0.000    -.2547425   -.1565687
         dummy2_37 |  -.2214651   .0231178    -9.58   0.000    -.2668099   -.1761202
         dummy2_38 |  -.2265759   .0236998    -9.56   0.000    -.2730624   -.1800895
         dummy2_39 |  -.2235734   .0229381    -9.75   0.000    -.2685659   -.1785809
         dummy2_40 |  -.2232195   .0229254    -9.74   0.000    -.2681871    -.178252
         dummy2_41 |  -.2224736   .0228021    -9.76   0.000    -.2671993    -.177748
         dummy2_42 |  -.2267472    .023436    -9.68   0.000    -.2727163   -.1807781
         dummy2_43 |  -.2274215    .023681    -9.60   0.000    -.2738713   -.1809718
         dummy2_44 |  -.2228889   .0228874    -9.74   0.000     -.267782   -.1779957
         dummy2_45 |  -.4693176   .0336564   -13.94   0.000    -.5353338   -.4033014
         dummy2_47 |  -.4662056   .0336567   -13.85   0.000    -.5322222   -.4001889
         dummy2_48 |  -.4420315   .0299003   -14.78   0.000    -.5006802   -.3833828
         dummy2_50 |  -.4467262   .0294143   -15.19   0.000    -.5044215   -.3890309
         dummy2_51 |   -.470234   .0433372   -10.85   0.000    -.5552388   -.3852292
         dummy2_52 |  -.4641224   .0339244   -13.68   0.000    -.5306642   -.3975806
         dummy2_53 |  -.4654037   .0336321   -13.84   0.000    -.5313723   -.3994352
         dummy2_54 |  -.4667138   .0336161   -13.88   0.000    -.5326509   -.4007768
         dummy2_55 |  -.4658355   .0336227   -13.85   0.000    -.5317855   -.3998856
         dummy2_56 |  -.4633951   .0337581   -13.73   0.000    -.5296106   -.3971795
         dummy2_57 |   -.443532   .0297513   -14.91   0.000    -.5018884   -.3851756
         dummy2_58 |  -.4430171   .0297793   -14.88   0.000    -.5014285   -.3846057
         dummy2_59 |  -.4653275    .033691   -13.81   0.000    -.5314115   -.3992435
         dummy2_60 |   -.469748   .0336749   -13.95   0.000    -.5358004   -.4036955
         dummy2_61 |  -.4682606   .0335951   -13.94   0.000    -.5341566   -.4023647
         dummy2_62 |  -.4673764   .0335986   -13.91   0.000    -.5332793   -.4014736
         dummy2_63 |  -.4676609   .0335886   -13.92   0.000     -.533544   -.4017778
         dummy2_64 |  -.4693296   .0336294   -13.96   0.000    -.5352927   -.4033664
         dummy2_65 |  -.4687148   .0337021   -13.91   0.000    -.5348205    -.402609
         dummy2_66 |  -.4478459   .0293778   -15.24   0.000    -.5054696   -.3902222
         dummy2_67 |  -.1879677   .0199029    -9.44   0.000    -.2270068   -.1489286
         dummy2_68 |  -.1753766   .0235076    -7.46   0.000    -.2214861    -.129267
         dummy2_69 |   -.187211   .0199087    -9.40   0.000    -.2262614   -.1481606
         dummy2_70 |  -.1798607   .0212963    -8.45   0.000    -.2216328   -.1380885
         dummy2_71 |  -.1869041   .0197998    -9.44   0.000    -.2257409   -.1480673
         dummy2_72 |  -.1874985   .0197864    -9.48   0.000     -.226309   -.1486881
         dummy2_73 |   -.202982   .0258824    -7.84   0.000    -.2537496   -.1522143
         dummy2_74 |  -.1868491   .0201991    -9.25   0.000    -.2264692   -.1472291
         dummy2_75 |  -.1868604   .0197971    -9.44   0.000     -.225692   -.1480289
         dummy2_76 |  -.1879729   .0197935    -9.50   0.000    -.2267972   -.1491485
         dummy2_77 |  -.1867067   .0197983    -9.43   0.000    -.2255406   -.1478728
         dummy2_78 |   -.187043    .019789    -9.45   0.000    -.2258586   -.1482274
         dummy2_79 |  -.1862883   .0200739    -9.28   0.000    -.2256627    -.146914
         dummy2_80 |  -.1863722   .0203918    -9.14   0.000    -.2263701   -.1463743
         dummy2_81 |  -.1861513   .0198919    -9.36   0.000    -.2251687   -.1471339
         dummy2_82 |  -.1896879    .020001    -9.48   0.000    -.2289194   -.1504564
         dummy2_83 |  -.1886022   .0197633    -9.54   0.000    -.2273673   -.1498371
         dummy2_84 |  -.1886194   .0198306    -9.51   0.000    -.2275165   -.1497223
         dummy2_85 |  -.1883356    .019758    -9.53   0.000    -.2270904   -.1495808
         dummy2_86 |  -.1883642   .0197584    -9.53   0.000    -.2271198   -.1496087
         dummy2_87 |  -.1900048   .0204008    -9.31   0.000    -.2300204   -.1499893
         dummy2_88 |  -.1880182   .0197522    -9.52   0.000    -.2267616   -.1492747
         dummy2_89 |  -.1171665   .0223063    -5.25   0.000    -.1609196   -.0734134
         dummy2_90 |  -.0880707   .0357089    -2.47   0.014    -.1581128   -.0180286
         dummy2_91 |  -.1147783   .0323062    -3.55   0.000    -.1781461   -.0514105
         dummy2_92 |  -.1100564   .0330138    -3.33   0.001    -.1748121   -.0453007
         dummy2_93 |  -.1140333   .0324067    -3.52   0.000    -.1775982   -.0504684
         dummy2_94 |  -.1118862   .0324881    -3.44   0.001    -.1756108   -.0481616
         dummy2_95 |  -.1234431   .0423204    -2.92   0.004    -.2064534   -.0404327
         dummy2_96 |  -.1095915   .0330261    -3.32   0.001    -.1743712   -.0448118
         dummy2_97 |  -.1087703   .0330124    -3.29   0.001    -.1735232   -.0440175
         dummy2_98 |  -.1139637    .032321    -3.53   0.000    -.1773605   -.0505669
         dummy2_99 |  -.1093622   .0328534    -3.33   0.001    -.1738033    -.044921
        dummy2_100 |  -.1036613   .0341892    -3.03   0.002    -.1707226      -.0366
        dummy2_101 |   -.103104   .0343581    -3.00   0.003    -.1704964   -.0357115
        dummy2_102 |  -.1074435   .0330953    -3.25   0.001     -.172359    -.042528
        dummy2_103 |  -.1123056   .0327075    -3.43   0.001    -.1764606   -.0481507
        dummy2_104 |  -.1098647   .0245679    -4.47   0.000    -.1580541   -.0616754
        dummy2_105 |   -.117106   .0222714    -5.26   0.000    -.1607907   -.0734212
        dummy2_106 |  -.1177969   .0222894    -5.28   0.000     -.161517   -.0740768
        dummy2_109 |  -.1177605   .0228403    -5.16   0.000    -.1625612   -.0729599
        dummy2_111 |  -.2398371   .0208515   -11.50   0.000    -.2807367   -.1989375
        dummy2_112 |  -.2312289   .0218932   -10.56   0.000    -.2741719   -.1882859
        dummy2_113 |  -.2376796   .0208902   -11.38   0.000    -.2786551    -.196704
        dummy2_114 |  -.2386132   .0208131   -11.46   0.000    -.2794375   -.1977889
        dummy2_115 |  -.2383026   .0207619   -11.48   0.000    -.2790265   -.1975787
        dummy2_116 |  -.2382274   .0207465   -11.48   0.000     -.278921   -.1975338
        dummy2_117 |  -.2412149   .0229705   -10.50   0.000     -.286271   -.1961588
        dummy2_118 |  -.2357664   .0215429   -10.94   0.000    -.2780222   -.1935106
        dummy2_119 |  -.2382447   .0207534   -11.48   0.000     -.278952   -.1975374
        dummy2_120 |  -.2395034   .0207805   -11.53   0.000    -.2802638   -.1987431
        dummy2_121 |  -.2379886   .0208074   -11.44   0.000    -.2788017   -.1971755
        dummy2_122 |  -.2380568   .0207935   -11.45   0.000    -.2788427   -.1972709
        dummy2_123 |   -.237089    .021076   -11.25   0.000     -.278429    -.195749
        dummy2_124 |  -.2358651   .0218587   -10.79   0.000    -.2787403   -.1929899
        dummy2_125 |  -.2391357   .0207544   -11.52   0.000    -.2798449   -.1984264
        dummy2_126 |  -.2400649   .0209122   -11.48   0.000    -.2810837   -.1990461
        dummy2_127 |  -.2395663   .0207084   -11.57   0.000    -.2801852   -.1989474
        dummy2_128 |  -.2393367    .020805   -11.50   0.000    -.2801451   -.1985283
        dummy2_129 |  -.2389875    .020638   -11.58   0.000    -.2794683   -.1985066
        dummy2_130 |  -.2390255   .0206426   -11.58   0.000    -.2795154   -.1985356
        dummy2_131 |  -.2400583   .0211522   -11.35   0.000    -.2815478   -.1985688
        dummy2_132 |  -.2390665   .0206867   -11.56   0.000     -.279643   -.1984901
        dummy2_133 |  -.2062735   .0221005    -9.33   0.000    -.2496231    -.162924
        dummy2_134 |  -.1940172   .0345354    -5.62   0.000    -.2617575   -.1262769
        dummy2_135 |   -.183785   .0296029    -6.21   0.000    -.2418502   -.1257198
        dummy2_136 |  -.2135987   .0196682   -10.86   0.000    -.2521772   -.1750201
        dummy2_137 |  -.2222601   .0186482   -11.92   0.000    -.2588381   -.1856821
        dummy2_138 |  -.2031896   .0226298    -8.98   0.000    -.2475773   -.1588018
        dummy2_140 |  -.2022083   .0234828    -8.61   0.000    -.2482692   -.1561474
        dummy2_141 |  -.2152569   .0196549   -10.95   0.000    -.2538094   -.1767044
        dummy2_142 |  -.2181397   .0192263   -11.35   0.000    -.2558517   -.1804277
        dummy2_143 |  -.1905615   .0268511    -7.10   0.000    -.2432292   -.1378938
        dummy2_144 |  -.1956515   .0246135    -7.95   0.000    -.2439302   -.1473728
        dummy2_145 |  -.1676186   .0362506    -4.62   0.000    -.2387231   -.0965141
        dummy2_146 |  -.1924933   .0258681    -7.44   0.000    -.2432329   -.1417537
        dummy2_147 |  -.2186877   .0190127   -11.50   0.000    -.2559805   -.1813948
        dummy2_148 |  -.1953375   .0258132    -7.57   0.000    -.2459693   -.1447057
        dummy2_149 |   -.123558     .05798    -2.13   0.033    -.2372843   -.0098318
        dummy2_150 |  -.1845032   .0296216    -6.23   0.000    -.2426052   -.1264012
        dummy2_151 |  -.1629702   .0386659    -4.21   0.000    -.2388123    -.087128
        dummy2_152 |  -.1963668   .0248359    -7.91   0.000    -.2450817   -.1476519
        dummy2_153 |   -.143143   .0492415    -2.91   0.004     -.239729   -.0465571
        dummy2_154 |  -.1171492   .0611747    -1.91   0.056    -.2371417    .0028434
        dummy2_155 |  -.0417745   .0200627    -2.08   0.037    -.0811269   -.0024221
        dummy2_156 |  -.1047746   .0406113    -2.58   0.010    -.1844326   -.0251165
        dummy2_157 |  -.0392898   .0200857    -1.96   0.051    -.0786874    .0001078
        dummy2_158 |  -.0254674    .025209    -1.01   0.313    -.0749142    .0239794
        dummy2_159 |   -.037834   .0204302    -1.85   0.064    -.0779073    .0022394
        dummy2_160 |  -.0406862    .019986    -2.04   0.042    -.0798883   -.0014842
        dummy2_161 |  -.0434106   .0229753    -1.89   0.059    -.0884761    .0016548
        dummy2_162 |  -.0377769    .020618    -1.83   0.067    -.0782186    .0026649
        dummy2_163 |  -.0363005   .0206397    -1.76   0.079    -.0767848    .0041837
        dummy2_164 |   -.040994   .0200375    -2.05   0.041    -.0802971    -.001691
        dummy2_165 |  -.0388472   .0202117    -1.92   0.055    -.0784919    .0007975
        dummy2_166 |   -.037369   .0204863    -1.82   0.068    -.0775523    .0028143
        dummy2_167 |  -.0176418   .0317264    -0.56   0.578    -.0798722    .0445886
        dummy2_168 |  -.0259157   .0236148    -1.10   0.273    -.0722354    .0204041
        dummy2_169 |   -.040595   .0200349    -2.03   0.043     -.079893   -.0012971
        dummy2_170 |   -.043086   .0199323    -2.16   0.031    -.0821826   -.0039894
        dummy2_171 |  -.0426528   .0199215    -2.14   0.032    -.0817282   -.0035773
        dummy2_172 |  -.0423538   .0199271    -2.13   0.034    -.0814402   -.0032674
        dummy2_173 |  -.0427803   .0199235    -2.15   0.032    -.0818598   -.0037009
        dummy2_174 |  -.0436881   .0199513    -2.19   0.029    -.0828221   -.0045541
        dummy2_175 |  -.0434735   .0200956    -2.16   0.031    -.0828904   -.0040565
        dummy2_176 |  -.0425803    .019929    -2.14   0.033    -.0816704   -.0034901
        dummy2_177 |  -.3353841    .032479   -10.33   0.000    -.3990909   -.2716773
        dummy2_178 |  -.3105211   .0390484    -7.95   0.000    -.3871135   -.2339287
        dummy2_179 |  -.3324783   .0324904   -10.23   0.000    -.3962074   -.2687493
        dummy2_180 |  -.3315956   .0325581   -10.18   0.000    -.3954575   -.2677338
        dummy2_181 |  -.3325771   .0324473   -10.25   0.000    -.3962215   -.2689326
        dummy2_182 |  -.3328889   .0324265   -10.27   0.000    -.3964925   -.2692852
        dummy2_183 |  -.3294688   .0325917   -10.11   0.000    -.3933966   -.2655411
        dummy2_184 |  -.3309692   .0327966   -10.09   0.000    -.3952988   -.2666396
        dummy2_185 |  -.3314876   .0324678   -10.21   0.000    -.3951723   -.2678029
        dummy2_186 |  -.3341921   .0324458   -10.30   0.000    -.3978337   -.2705505
        dummy2_187 |  -.3324665   .0324433   -10.25   0.000    -.3961032   -.2688298
        dummy2_188 |  -.3284821   .0326894   -10.05   0.000    -.3926014   -.2643628
        dummy2_189 |  -.3262139   .0332011    -9.83   0.000     -.391337   -.2610909
        dummy2_190 |  -.3271675    .033051    -9.90   0.000    -.3919961   -.2623389
        dummy2_191 |  -.3333863    .032452   -10.27   0.000      -.39704   -.2697326
        dummy2_192 |   -.335224    .032441   -10.33   0.000     -.398856   -.2715919
        dummy2_193 |  -.3348052   .0324313   -10.32   0.000    -.3984184    -.271192
        dummy2_194 |  -.3332289   .0324149   -10.28   0.000    -.3968099   -.2696478
        dummy2_197 |  -.3343059   .0324461   -10.30   0.000    -.3979481   -.2706637
        dummy2_198 |  -.3336917   .0324131   -10.29   0.000    -.3972692   -.2701142
        dummy2_199 |   .0127061    .018464     0.69   0.491    -.0235105    .0489228
        dummy2_200 |   .0321228    .024542     1.31   0.191    -.0160156    .0802612
        dummy2_201 |   .0157831   .0184817     0.85   0.393    -.0204683    .0520345
        dummy2_202 |   .0294185   .0237166     1.24   0.215    -.0171009    .0759379
        dummy2_203 |   .0136867   .0183773     0.74   0.457    -.0223599    .0497332
        dummy2_204 |   .0138624   .0183674     0.75   0.451    -.0221647    .0498895
        dummy2_205 |   .0243465   .0203331     1.20   0.231    -.0155363    .0642293
        dummy2_206 |   .0168705   .0186019     0.91   0.365    -.0196165    .0533576
        dummy2_207 |   .0172136    .018719     0.92   0.358    -.0195032    .0539303
        dummy2_208 |   .0150598   .0184955     0.81   0.416    -.0212187    .0513383
        dummy2_209 |   .0156897   .0184819     0.85   0.396    -.0205621    .0519415
        dummy2_210 |   .0161144   .0185595     0.87   0.385    -.0202895    .0525184
        dummy2_211 |   .0345734   .0218631     1.58   0.114    -.0083104    .0774573
        dummy2_212 |   .0154084   .0190973     0.81   0.420    -.0220504    .0528672
        dummy2_213 |   .0152548   .0186685     0.82   0.414    -.0213629    .0518725
        dummy2_214 |   .0128803   .0183627     0.70   0.483    -.0231377    .0488984
        dummy2_215 |   .0126842   .0183724     0.69   0.490    -.0233528    .0487212
        dummy2_216 |    .012927   .0183875     0.70   0.482    -.0231396    .0489936
        dummy2_217 |   .0134254   .0183537     0.73   0.465     -.022575    .0494257
        dummy2_218 |   .0127983   .0183695     0.70   0.486    -.0232329    .0488296
        dummy2_219 |   .0135574   .0183538     0.74   0.460    -.0224432    .0495579
        dummy2_220 |   .0139525   .0183552     0.76   0.447    -.0220508    .0499558
        dummy2_221 |  -.1640979   .0177685    -9.24   0.000    -.1989504   -.1292455
        dummy2_222 |  -.1645818   .0179913    -9.15   0.000    -.1998712   -.1292923
        dummy2_223 |  -.1625219   .0176521    -9.21   0.000    -.1971461   -.1278977
        dummy2_224 |  -.1584173   .0185103    -8.56   0.000    -.1947248   -.1221099
        dummy2_225 |  -.1614973   .0177749    -9.09   0.000    -.1963623   -.1266324
        dummy2_226 |  -.1633728   .0176035    -9.28   0.000    -.1979016    -.128844
        dummy2_227 |   -.161372    .018259    -8.84   0.000    -.1971866   -.1255575
        dummy2_228 |    -.16161   .0181946    -8.88   0.000    -.1972983   -.1259218
        dummy2_229 |  -.1627159   .0176589    -9.21   0.000    -.1973533   -.1280785
        dummy2_230 |  -.1638417   .0176243    -9.30   0.000    -.1984113   -.1292722
        dummy2_231 |  -.1622933   .0176869    -9.18   0.000    -.1969857   -.1276009
        dummy2_232 |  -.1611738   .0178436    -9.03   0.000    -.1961736    -.126174
        dummy2_233 |  -.1586412   .0188707    -8.41   0.000    -.1956555   -.1216268
        dummy2_234 |  -.1526888   .0189036    -8.08   0.000    -.1897677     -.11561
        dummy2_235 |  -.1618704   .0177837    -9.10   0.000    -.1967526   -.1269883
        dummy2_236 |  -.1652861   .0176845    -9.35   0.000    -.1999739   -.1305984
        dummy2_237 |  -.1647834   .0175892    -9.37   0.000    -.1992841   -.1302827
        dummy2_238 |    -.16446   .0176066    -9.34   0.000    -.1989949   -.1299252
        dummy2_239 |  -.1643076   .0175772    -9.35   0.000    -.1987848   -.1298303
        dummy2_240 |   -.164615     .01759    -9.36   0.000    -.1991174   -.1301127
        dummy2_241 |  -.1661767   .0183014    -9.08   0.000    -.2020743    -.130279
        dummy2_242 |  -.1644314   .0175819    -9.35   0.000    -.1989178    -.129945
        dummy2_243 |  -.0012325   .0171633    -0.07   0.943    -.0348978    .0324328
        dummy2_244 |   .0000887   .0180425     0.00   0.996    -.0353012    .0354786
        dummy2_245 |   .0000193   .0171415     0.00   0.999    -.0336033    .0336419
        dummy2_246 |   .0039415   .0176467     0.22   0.823     -.030672    .0385551
        dummy2_247 |   .0005155    .017141     0.03   0.976    -.0331062    .0341371
        dummy2_248 |  -.0001866   .0171175    -0.01   0.991    -.0337622     .033389
        dummy2_249 |  -.0011302   .0228423    -0.05   0.961    -.0459347    .0436743
        dummy2_250 |  -.0010981   .0177263    -0.06   0.951    -.0358677    .0336715
        dummy2_251 |    .000372    .017127     0.02   0.983    -.0332222    .0339663
        dummy2_252 |  -.0000498   .0171372    -0.00   0.998    -.0336639    .0335644
        dummy2_253 |   .0005907   .0171351     0.03   0.973    -.0330192    .0342007
        dummy2_254 |   .0009161   .0171551     0.05   0.957    -.0327331    .0345654
        dummy2_255 |   .0006945   .0173772     0.04   0.968    -.0333904    .0347793
        dummy2_256 |  -.0023322   .0177791    -0.13   0.896    -.0372054     .032541
        dummy2_257 |   .0021046   .0173076     0.12   0.903    -.0318438     .036053
        dummy2_258 |  -.0020436   .0175128    -0.12   0.907    -.0363945    .0323073
        dummy2_259 |  -.0004754   .0171158    -0.03   0.978    -.0340475    .0330968
        dummy2_260 |  -.0007251    .017213    -0.04   0.966    -.0344879    .0330377
        dummy2_261 |  -.0000544   .0171143    -0.00   0.997    -.0336236    .0335148
        dummy2_262 |  -.0006367   .0171363    -0.04   0.970    -.0342492    .0329757
        dummy2_263 |  -.0028525   .0184496    -0.15   0.877    -.0390409    .0333359
                   |
            per108 |
               L1. |   .0145878    .001185    12.31   0.000     .0122636    .0169121
                   |
            per403 |
               L1. |  -.0129375   .0014042    -9.21   0.000    -.0156918   -.0101831
                   |
            per404 |
               L1. |   .0088162   .0028183     3.13   0.002     .0032881    .0143443
                   |
            per505 |
               L1. |  -.0108542   .0037647    -2.88   0.004    -.0182385   -.0034698
                   |
             _cons |   .5249229   .0144785    36.26   0.000     .4965237    .5533222
------------------------------------------------------------------------------------
Included instruments: tfpleadershipklems L.tecnogapklems ind_trend L.tradelib
                      L.pmr y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10 dummy2_1
                      dummy2_2 dummy2_3 dummy2_4 dummy2_5 dummy2_6 dummy2_7
                      dummy2_8 dummy2_9 dummy2_10 dummy2_11 dummy2_12 dummy2_13
                      dummy2_14 dummy2_15 dummy2_16 dummy2_17 dummy2_18
                      dummy2_19 dummy2_20 dummy2_21 dummy2_22 dummy2_23
                      dummy2_24 dummy2_25 dummy2_26 dummy2_27 dummy2_28
                      dummy2_29 dummy2_30 dummy2_31 dummy2_32 dummy2_33
                      dummy2_34 dummy2_35 dummy2_36 dummy2_37 dummy2_38
                      dummy2_39 dummy2_40 dummy2_41 dummy2_42 dummy2_43
                      dummy2_44 dummy2_45 dummy2_47 dummy2_48 dummy2_50
                      dummy2_51 dummy2_52 dummy2_53 dummy2_54 dummy2_55
                      dummy2_56 dummy2_57 dummy2_58 dummy2_59 dummy2_60
                      dummy2_61 dummy2_62 dummy2_63 dummy2_64 dummy2_65
                      dummy2_66 dummy2_67 dummy2_68 dummy2_69 dummy2_70
                      dummy2_71 dummy2_72 dummy2_73 dummy2_74 dummy2_75
                      dummy2_76 dummy2_77 dummy2_78 dummy2_79 dummy2_80
                      dummy2_81 dummy2_82 dummy2_83 dummy2_84 dummy2_85
                      dummy2_86 dummy2_87 dummy2_88 dummy2_89 dummy2_90
                      dummy2_91 dummy2_92 dummy2_93 dummy2_94 dummy2_95
                      dummy2_96 dummy2_97 dummy2_98 dummy2_99 dummy2_100
                      dummy2_101 dummy2_102 dummy2_103 dummy2_104 dummy2_105
                      dummy2_106 dummy2_109 dummy2_111 dummy2_112 dummy2_113
                      dummy2_114 dummy2_115 dummy2_116 dummy2_117 dummy2_118
                      dummy2_119 dummy2_120 dummy2_121 dummy2_122 dummy2_123
                      dummy2_124 dummy2_125 dummy2_126 dummy2_127 dummy2_128
                      dummy2_129 dummy2_130 dummy2_131 dummy2_132 dummy2_133
                      dummy2_134 dummy2_135 dummy2_136 dummy2_137 dummy2_138
                      dummy2_140 dummy2_141 dummy2_142 dummy2_143 dummy2_144
                      dummy2_145 dummy2_146 dummy2_147 dummy2_148 dummy2_149
                      dummy2_150 dummy2_151 dummy2_152 dummy2_153 dummy2_154
                      dummy2_155 dummy2_156 dummy2_157 dummy2_158 dummy2_159
                      dummy2_160 dummy2_161 dummy2_162 dummy2_163 dummy2_164
                      dummy2_165 dummy2_166 dummy2_167 dummy2_168 dummy2_169
                      dummy2_170 dummy2_171 dummy2_172 dummy2_173 dummy2_174
                      dummy2_175 dummy2_176 dummy2_177 dummy2_178 dummy2_179
                      dummy2_180 dummy2_181 dummy2_182 dummy2_183 dummy2_184
                      dummy2_185 dummy2_186 dummy2_187 dummy2_188 dummy2_189
                      dummy2_190 dummy2_191 dummy2_192 dummy2_193 dummy2_194
                      dummy2_197 dummy2_198 dummy2_199 dummy2_200 dummy2_201
                      dummy2_202 dummy2_203 dummy2_204 dummy2_205 dummy2_206
                      dummy2_207 dummy2_208 dummy2_209 dummy2_210 dummy2_211
                      dummy2_212 dummy2_213 dummy2_214 dummy2_215 dummy2_216
                      dummy2_217 dummy2_218 dummy2_219 dummy2_220 dummy2_221
                      dummy2_222 dummy2_223 dummy2_224 dummy2_225 dummy2_226
                      dummy2_227 dummy2_228 dummy2_229 dummy2_230 dummy2_231
                      dummy2_232 dummy2_233 dummy2_234 dummy2_235 dummy2_236
                      dummy2_237 dummy2_238 dummy2_239 dummy2_240 dummy2_241
                      dummy2_242 dummy2_243 dummy2_244 dummy2_245 dummy2_246
                      dummy2_247 dummy2_248 dummy2_249 dummy2_250 dummy2_251
                      dummy2_252 dummy2_253 dummy2_254 dummy2_255 dummy2_256
                      dummy2_257 dummy2_258 dummy2_259 dummy2_260 dummy2_261
                      dummy2_262 dummy2_263 L.per108 L.per403 L.per404 L.per505
------------------------------------------------------------------------------
F test of excluded instruments:
  F(  4,  1573) =   121.65
  Prob > F      =   0.0000
Angrist-Pischke multivariate F test of excluded instruments:
  F(  4,  1573) =   121.65
  Prob > F      =   0.0000



Summary results for first-stage regressions
-------------------------------------------

                                           (Underid)            (Weak id)
Variable     | F(  4,  1573)  P-val | AP Chi-sq(  4) P-val | AP F(  4,  1573)
L.CPIequalw  |     121.65    0.0000 |      571.37   0.0000 |      121.65

Stock-Yogo weak ID test critical values for single endogenous regressor:
                                    5% maximal IV relative bias    16.85
                                   10% maximal IV relative bias    10.27
                                   20% maximal IV relative bias     6.71
                                   30% maximal IV relative bias     5.34
                                   10% maximal IV size             24.58
                                   15% maximal IV size             13.96
                                   20% maximal IV size             10.26
                                   25% maximal IV size              8.31
Source: Stock-Yogo (2005).  Reproduced by permission.

Underidentification test
Ho: matrix of reduced form coefficients has rank=K1-1 (underidentified)
Ha: matrix has rank=K1 (identified)
Anderson canon. corr. LM statistic       Chi-sq(4)=436.38   P-val=0.0000

Weak identification test
Ho: equation is weakly identified
Cragg-Donald Wald F statistic                                     121.65

Stock-Yogo weak ID test critical values for K1=1 and L1=4:
                                    5% maximal IV relative bias    16.85
                                   10% maximal IV relative bias    10.27
                                   20% maximal IV relative bias     6.71
                                   30% maximal IV relative bias     5.34
                                   10% maximal IV size             24.58
                                   15% maximal IV size             13.96
                                   20% maximal IV size             10.26
                                   25% maximal IV size              8.31
Source: Stock-Yogo (2005).  Reproduced by permission.

Weak-instrument-robust inference
Tests of joint significance of endogenous regressors B1 in main equation
Ho: B1=0 and orthogonality conditions are valid
Anderson-Rubin Wald test           F(4,1573)=      1.58     P-val=0.1771
Anderson-Rubin Wald test           Chi-sq(4)=      7.42     P-val=0.1153
Stock-Wright LM S statistic        Chi-sq(4)=      7.39     P-val=0.1167

Number of observations               N  =       1847
Number of regressors                 K  =        271
Number of endogenous regressors      K1 =          1
Number of instruments                L  =        274
Number of excluded instruments       L1 =          4

IV (2SLS) estimation
--------------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1847
                                                      F(270,  1576) =     2.13
                                                      Prob > F      =   0.0000
Total (centered) SS     =  8.679659315                Centered R2   =   0.2682
Total (uncentered) SS   =  8.846870444                Uncentered R2 =   0.2821
Residual SS             =  6.351556548                Root MSE      =   .05864

------------------------------------------------------------------------------------
tfpcorrectedover~s |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
         CPIequalw |
               L1. |   .1336054   .0694827     1.92   0.054    -.0025782    .2697889
                   |
tfpleadershipklems |   .0644731   .0185007     3.48   0.000     .0282123    .1007338
                   |
     tecnogapklems |
               L1. |   .0074353   .0039873     1.86   0.062    -.0003797    .0152502
                   |
         ind_trend |   .0484087   .0237178     2.04   0.041     .0019226    .0948948
                   |
          tradelib |
               L1. |   .0145073   .0035945     4.04   0.000     .0074621    .0215525
                   |
               pmr |
               L1. |  -.0271988    .011738    -2.32   0.020    -.0502048   -.0041927
                   |
               y_2 |   .0123814   .0108875     1.14   0.255    -.0089576    .0337204
               y_3 |   .0158357    .010191     1.55   0.120    -.0041382    .0358096
               y_4 |  -.0075391   .0104163    -0.72   0.469    -.0279548    .0128765
               y_5 |   .0203093    .010374     1.96   0.050    -.0000234     .040642
               y_6 |   .0240305   .0088071     2.73   0.006     .0067689     .041292
               y_7 |  -.0058024   .0079407    -0.73   0.465    -.0213659    .0097611
               y_8 |  -.0022312   .0075336    -0.30   0.767    -.0169967    .0125344
               y_9 |  -.0002912     .00729    -0.04   0.968    -.0145794     .013997
              y_10 |   .0096981   .0064246     1.51   0.131     -.002894    .0222901
          dummy2_1 |   .0097793   .0389274     0.25   0.802     -.066517    .0860757
          dummy2_2 |  -.0479836   .0392361    -1.22   0.221    -.1248849    .0289177
          dummy2_3 |   .0230261   .0387904     0.59   0.553    -.0530018    .0990539
          dummy2_4 |  -.0050521   .0393435    -0.13   0.898     -.082164    .0720598
          dummy2_5 |    .017003   .0387573     0.44   0.661    -.0589599    .0929659
          dummy2_6 |   .0726108   .0388726     1.87   0.062    -.0035781    .1487997
          dummy2_7 |  -.0024134   .0397511    -0.06   0.952    -.0803241    .0754974
          dummy2_8 |   .0173923   .0397702     0.44   0.662    -.0605557    .0953404
          dummy2_9 |  -.0059429   .0390089    -0.15   0.879     -.082399    .0705131
         dummy2_10 |   .0156727   .0389279     0.40   0.687    -.0606246    .0919701
         dummy2_11 |   .0316031   .0389436     0.81   0.417    -.0447249    .1079311
         dummy2_12 |  -.0033924   .0402446    -0.08   0.933    -.0822703    .0754855
         dummy2_13 |  -.0174441   .0505547    -0.35   0.730    -.1165296    .0816413
         dummy2_14 |  -.0135684   .0465128    -0.29   0.771    -.1047319    .0775951
         dummy2_15 |   .0197509   .0389532     0.51   0.612    -.0565961    .0960978
         dummy2_16 |   .0026188   .0388643     0.07   0.946    -.0735539    .0787914
         dummy2_17 |   .0268224   .0388284     0.69   0.490      -.04928    .1029247
         dummy2_18 |   .0237888   .0390336     0.61   0.542    -.0527158    .1002933
         dummy2_19 |   .0412162   .0387972     1.06   0.288     -.034825    .1172574
         dummy2_20 |   .0130754   .0388717     0.34   0.737    -.0631118    .0892626
         dummy2_21 |  -.0162847   .0396032    -0.41   0.681    -.0939056    .0613362
         dummy2_22 |    .013303   .0389607     0.34   0.733    -.0630585    .0896645
         dummy2_23 |   .1073848   .0323074     3.32   0.001     .0440634    .1707062
         dummy2_24 |   .0284633   .0338021     0.84   0.400    -.0377875    .0947142
         dummy2_25 |   .0303775   .0322383     0.94   0.346    -.0328084    .0935633
         dummy2_26 |   .0659122   .0331757     1.99   0.047     .0008891    .1309354
         dummy2_27 |    .090869   .0323509     2.81   0.005     .0274624    .1542755
         dummy2_28 |   .0419287   .0329306     1.27   0.203    -.0226141    .1064715
         dummy2_29 |   .0589386   .0394644     1.49   0.135    -.0184101    .1362873
         dummy2_30 |   .0089316   .0341478     0.26   0.794    -.0579969    .0758601
         dummy2_31 |   .0671525   .0333322     2.01   0.044     .0018226    .1324823
         dummy2_32 |   .0987454   .0323763     3.05   0.002      .035289    .1622018
         dummy2_33 |   .0337447   .0325933     1.04   0.301     -.030137    .0976263
         dummy2_34 |   .0841389   .0327193     2.57   0.010     .0200101    .1482676
         dummy2_35 |   .0314642   .0352364     0.89   0.372    -.0375979    .1005263
         dummy2_36 |   .0076389   .0353485     0.22   0.829    -.0616428    .0769206
         dummy2_37 |   .0455604   .0325553     1.40   0.162    -.0182468    .1093676
         dummy2_38 |   .0599616   .0333571     1.80   0.072    -.0054171    .1253403
         dummy2_39 |   .0372896   .0322998     1.15   0.248    -.0260169    .1005961
         dummy2_40 |  -.0092101   .0322764    -0.29   0.775    -.0724706    .0540504
         dummy2_41 |   .0312026   .0320777     0.97   0.331    -.0316686    .0940738
         dummy2_42 |   .0162272   .0330281     0.49   0.623    -.0485067    .0809611
         dummy2_43 |   .0389327    .033323     1.17   0.243    -.0263792    .1042447
         dummy2_44 |   .0543864     .03221     1.69   0.091     -.008744    .1175168
         dummy2_45 |   .1054629   .0515949     2.04   0.041     .0043387    .2065871
         dummy2_47 |   .0544706    .051532     1.06   0.290    -.0465302    .1554714
         dummy2_48 |   .0908655   .0459731     1.98   0.048     .0007599    .1809711
         dummy2_50 |   .0803999   .0453337     1.77   0.076    -.0084525    .1692522
         dummy2_51 |  -.1890996   .0663588    -2.85   0.004    -.3191604   -.0590387
         dummy2_52 |   .0510437   .0519096     0.98   0.325    -.0506972    .1527846
         dummy2_53 |   .1186837   .0514783     2.31   0.021     .0177881    .2195794
         dummy2_54 |    .072007   .0514795     1.40   0.162     -.028891     .172905
         dummy2_55 |   .0781231   .0514723     1.52   0.129    -.0227608    .1790069
         dummy2_56 |   .1123327   .0516351     2.18   0.030     .0111298    .2135356
         dummy2_57 |   .0868229   .0457812     1.90   0.058    -.0029066    .1765523
         dummy2_58 |   .0341264   .0458088     0.74   0.456    -.0556571      .12391
         dummy2_59 |   .0949705   .0515705     1.84   0.066    -.0061057    .1960468
         dummy2_60 |   .1802045     .05163     3.49   0.000     .0790117    .2813974
         dummy2_61 |   .0777594    .051475     1.51   0.131    -.0231298    .1786486
         dummy2_62 |   .0865382   .0514604     1.68   0.093    -.0143223    .1873987
         dummy2_63 |   .0687523   .0514517     1.34   0.181    -.0320912    .1695957
         dummy2_64 |   .1973759   .0515514     3.83   0.000     .0963371    .2984147
         dummy2_65 |   .0502227   .0516481     0.97   0.331    -.0510058    .1514511
         dummy2_66 |   .0763902   .0453034     1.69   0.092    -.0124028    .1651831
         dummy2_67 |   .0682754   .0284534     2.40   0.016     .0125078    .1240429
         dummy2_68 |  -.0538987   .0341997    -1.58   0.115    -.1209288    .0131314
         dummy2_69 |   .0333909   .0284549     1.17   0.241    -.0223796    .0891614
         dummy2_70 |   .0183558   .0306531     0.60   0.549    -.0417233    .0784348
         dummy2_71 |   .0626537   .0282723     2.22   0.027      .007241    .1180664
         dummy2_72 |   .0380158   .0282568     1.35   0.179    -.0173666    .0933981
         dummy2_73 |  -.0301117   .0378928    -0.79   0.427    -.1043803     .044157
         dummy2_74 |   .0617786   .0289273     2.14   0.033     .0050821    .1184752
         dummy2_75 |   .0522902   .0282675     1.85   0.064    -.0031131    .1076936
         dummy2_76 |   .0547199   .0282735     1.94   0.053    -.0006951     .110135
         dummy2_77 |   .0438539   .0282679     1.55   0.121    -.0115502    .0992581
         dummy2_78 |    .045387   .0282562     1.61   0.108    -.0099941    .1007681
         dummy2_79 |   .0616922   .0287159     2.15   0.032       .00541    .1179745
         dummy2_80 |   .0558129   .0291804     1.91   0.056    -.0013796    .1130054
         dummy2_81 |   .0271214   .0284157     0.95   0.340    -.0285723     .082815
         dummy2_82 |   .0749216   .0286335     2.62   0.009      .018801    .1310422
         dummy2_83 |   .0441031   .0282309     1.56   0.118    -.0112283    .0994346
         dummy2_84 |   .0418409   .0283419     1.48   0.140    -.0137082      .09739
         dummy2_85 |   .0625642   .0282193     2.22   0.027     .0072554    .1178731
         dummy2_86 |   .0998715   .0282202     3.54   0.000     .0445609    .1551821
         dummy2_87 |   .0172318   .0292916     0.59   0.556    -.0401788    .0746424
         dummy2_88 |  -.0234842   .0282065    -0.83   0.405    -.0787679    .0317995
         dummy2_89 |   .1068416   .0308053     3.47   0.001     .0464644    .1672189
         dummy2_90 |   -.032319   .0525157    -0.62   0.538     -.135248    .0706099
         dummy2_91 |  -.0098735   .0474988    -0.21   0.835    -.1029694    .0832225
         dummy2_92 |   .0768375   .0485993     1.58   0.114    -.0184154    .1720903
         dummy2_93 |   .0680258   .0476532     1.43   0.153    -.0253728    .1614244
         dummy2_94 |   .0718814   .0477848     1.50   0.133    -.0217752     .165538
         dummy2_95 |   .2553193    .063275     4.04   0.000     .1313027     .379336
         dummy2_96 |   .0244403   .0486229     0.50   0.615    -.0708589    .1197395
         dummy2_97 |   .0982031   .0486069     2.02   0.043     .0029355    .1934708
         dummy2_98 |  -.0085488   .0475273    -0.18   0.857    -.1017005     .084603
         dummy2_99 |  -.0667353    .048358    -1.38   0.168    -.1615153    .0280447
        dummy2_100 |   .1095628   .0504649     2.17   0.030     .0106533    .2084722
        dummy2_101 |  -.0052687   .0507308    -0.10   0.917    -.1046993    .0941619
        dummy2_102 |  -.1781466   .0487474    -3.65   0.000    -.2736898   -.0826033
        dummy2_103 |   .1369749   .0481204     2.85   0.004     .0426606    .2312891
        dummy2_104 |   .0404743   .0349597     1.16   0.247    -.0280454     .108994
        dummy2_105 |    .067701    .030748     2.20   0.028     .0074361    .1279659
        dummy2_106 |   .0262572   .0307688     0.85   0.393    -.0340486    .0865631
        dummy2_109 |   .0955809   .0318717     3.00   0.003     .0331135    .1580483
        dummy2_111 |   .0683276   .0329284     2.08   0.038     .0037892    .1328661
        dummy2_112 |   .0112324   .0342818     0.33   0.743    -.0559588    .0784236
        dummy2_113 |   .0358019   .0329305     1.09   0.277    -.0287407    .1003445
        dummy2_114 |   .0346941   .0328442     1.06   0.291    -.0296794    .0990676
        dummy2_115 |   .0724103   .0327622     2.21   0.027     .0081975     .136623
        dummy2_116 |   .0453089   .0327378     1.38   0.166    -.0188561    .1094739
        dummy2_117 |  -.0150496   .0358588    -0.42   0.675    -.0853316    .0552324
        dummy2_118 |   .0403478   .0338408     1.19   0.233    -.0259789    .1066745
        dummy2_119 |   .0537007    .032748     1.64   0.101    -.0104842    .1178856
        dummy2_120 |   .0605347   .0328169     1.84   0.065    -.0037854    .1248547
        dummy2_121 |   .0513099   .0328193     1.56   0.118    -.0130147    .1156345
        dummy2_122 |   .0416609   .0328016     1.27   0.204     -.022629    .1059508
        dummy2_123 |   .0239306    .033201     0.72   0.471    -.0411423    .0890034
        dummy2_124 |   .0144756   .0343758     0.42   0.674    -.0528996    .0818509
        dummy2_125 |   .0581333   .0327716     1.77   0.076    -.0060979    .1223645
        dummy2_126 |   .0640397   .0330177     1.94   0.052    -.0006738    .1287533
        dummy2_127 |   .0462029    .032716     1.41   0.158    -.0179192    .1103251
        dummy2_128 |   .0443298   .0328457     1.35   0.177    -.0200465    .1087062
        dummy2_129 |   .0603028   .0326034     1.85   0.064    -.0035988    .1242043
        dummy2_130 |   .1295058   .0326103     3.97   0.000     .0655907    .1934209
        dummy2_131 |   .0725174    .033363     2.17   0.030     .0071272    .1379076
        dummy2_132 |   .0672531    .032673     2.06   0.040     .0032151    .1312911
        dummy2_133 |   .0077469   .0345348     0.22   0.823    -.0599401    .0754339
        dummy2_134 |  -.0936555   .0533997    -1.75   0.079     -.198317     .011006
        dummy2_135 |   -.058509   .0450807    -1.30   0.194    -.1468655    .0298475
        dummy2_136 |  -.0142427   .0313988    -0.45   0.650    -.0757832    .0472979
        dummy2_137 |   .0180111   .0304143     0.59   0.554    -.0415998    .0776219
        dummy2_138 |  -.0036605   .0352204    -0.10   0.917    -.0726912    .0653702
        dummy2_140 |  -.0186701   .0364036    -0.51   0.608    -.0900198    .0526797
        dummy2_141 |   .0433284   .0314086     1.38   0.168    -.0182314    .1048881
        dummy2_142 |   .0314236   .0309384     1.02   0.310    -.0292146    .0920618
        dummy2_143 |  -.0103969    .041113    -0.25   0.800    -.0909769    .0701832
        dummy2_144 |  -.0034131   .0378239    -0.09   0.928    -.0775465    .0707203
        dummy2_145 |  -.0186065   .0548098    -0.34   0.734    -.1260318    .0888188
        dummy2_146 |   .0044615   .0398087     0.11   0.911     -.073562    .0824851
        dummy2_147 |    .034908   .0306952     1.14   0.255    -.0252534    .0950695
        dummy2_148 |   .0056429   .0396554     0.14   0.887    -.0720802     .083366
        dummy2_149 |  -.1271497   .0877382    -1.45   0.147    -.2991134    .0448141
        dummy2_150 |   -.024984   .0451161    -0.55   0.580      -.11341     .063442
        dummy2_151 |  -.0502001   .0585173    -0.86   0.391    -.1648918    .0644916
        dummy2_152 |   .0128918   .0382644     0.34   0.736     -.062105    .0878887
        dummy2_153 |  -.1234281   .0744336    -1.66   0.097    -.2693152     .022459
        dummy2_154 |  -.1214164   .0925985    -1.31   0.190    -.3029061    .0600733
        dummy2_155 |   .0030649   .0297583     0.10   0.918    -.0552602    .0613901
        dummy2_156 |   .0451813   .0623225     0.72   0.468    -.0769685    .1673311
        dummy2_157 |   .0295771   .0297896     0.99   0.321    -.0288094    .0879636
        dummy2_158 |  -.0491721   .0378505    -1.30   0.194    -.1233577    .0250135
        dummy2_159 |   -.014557    .030337    -0.48   0.631    -.0740164    .0449024
        dummy2_160 |   .0293842   .0296323     0.99   0.321     -.028694    .0874623
        dummy2_161 |   .1304706    .034465     3.79   0.000     .0629204    .1980208
        dummy2_162 |   .0381939   .0306379     1.25   0.213    -.0218552     .098243
        dummy2_163 |   .0008621   .0306661     0.03   0.978    -.0592423    .0609665
        dummy2_164 |   .0283163   .0297167     0.95   0.341    -.0299273    .0865599
        dummy2_165 |   .0220286   .0299889     0.73   0.463    -.0367485    .0808058
        dummy2_166 |    .024281   .0304242     0.80   0.425    -.0353493    .0839112
        dummy2_167 |  -.1181322   .0480096    -2.46   0.014    -.2122293   -.0240351
        dummy2_168 |  -.0145925   .0353151    -0.41   0.679    -.0838088    .0546237
        dummy2_169 |   .0224683   .0297094     0.76   0.449     -.035761    .0806977
        dummy2_170 |   .0655807    .029549     2.22   0.026     .0076657    .1234957
        dummy2_171 |   .0175216   .0295321     0.59   0.553    -.0403602    .0754035
        dummy2_172 |   .0153517   .0295416     0.52   0.603    -.0425488    .0732522
        dummy2_173 |   .0326212   .0295356     1.10   0.269    -.0252676    .0905099
        dummy2_174 |   .1049792   .0295792     3.55   0.000     .0470051    .1629532
        dummy2_175 |    .031817    .029816     1.07   0.286    -.0266214    .0902554
        dummy2_176 |   .0168114   .0295451     0.57   0.569    -.0410959    .0747187
        dummy2_177 |   .0540743   .0491212     1.10   0.271    -.0422015    .1503501
        dummy2_178 |  -.0706265   .0589946    -1.20   0.231    -.1862538    .0450008
        dummy2_179 |   .0773284   .0490913     1.58   0.115    -.0188888    .1735455
        dummy2_180 |     .05707   .0491838     1.16   0.246    -.0393285    .1534686
        dummy2_181 |   .0240337   .0490293     0.49   0.624     -.072062    .1201294
        dummy2_182 |   .0747508   .0490017     1.53   0.127    -.0212907    .1707923
        dummy2_183 |   .0228594   .0492053     0.46   0.642    -.0735812       .1193
        dummy2_184 |   .0308122   .0495416     0.62   0.534    -.0662876     .127912
        dummy2_185 |   .0611745   .0490462     1.25   0.212    -.0349542    .1573033
        dummy2_186 |   .0614758   .0490491     1.25   0.210    -.0346587    .1576104
        dummy2_187 |   .0687734    .049022     1.40   0.161    -.0273079    .1648548
        dummy2_188 |   .0350219   .0493476     0.71   0.478    -.0616976    .1317414
        dummy2_189 |   .0326504   .0501117     0.65   0.515    -.0655666    .1308674
        dummy2_190 |   .0040711   .0498876     0.08   0.935    -.0937068     .101849
        dummy2_191 |   .0426978   .0490483     0.87   0.384     -.053435    .1388306
        dummy2_192 |   .0891882   .0490607     1.82   0.069     -.006969    .1853454
        dummy2_193 |   .0441911   .0490381     0.90   0.368    -.0519218    .1403039
        dummy2_194 |    .032654   .0489904     0.67   0.505    -.0633655    .1286734
        dummy2_197 |   .1109226   .0490509     2.26   0.024     .0147847    .2070605
        dummy2_198 |   .0500765   .0489939     1.02   0.307    -.0459499    .1461028
        dummy2_199 |   .0233353   .0274586     0.85   0.395    -.0304825    .0771532
        dummy2_200 |  -.0869549    .037266    -2.33   0.020    -.1599949   -.0139149
        dummy2_201 |  -.0124384   .0275527    -0.45   0.652    -.0664408    .0415639
        dummy2_202 |  -.0760415   .0359541    -2.11   0.034    -.1465102   -.0055728
        dummy2_203 |   .0440596   .0273439     1.61   0.107    -.0095335    .0976527
        dummy2_204 |   .0119258   .0273352     0.44   0.663    -.0416502    .0655017
        dummy2_205 |  -.0352744   .0306027    -1.15   0.249    -.0952546    .0247058
        dummy2_206 |  -.0144901   .0277642    -0.52   0.602    -.0689068    .0399267
        dummy2_207 |  -.0024512   .0279513    -0.09   0.930    -.0572348    .0523324
        dummy2_208 |   .0175222   .0275548     0.64   0.525    -.0364843    .0715286
        dummy2_209 |  -.0170622   .0275514    -0.62   0.536    -.0710619    .0369375
        dummy2_210 |   .0100512   .0276807     0.36   0.717     -.044202    .0643043
        dummy2_211 |   .0932054   .0331598     2.81   0.005     .0282134    .1581975
        dummy2_212 |   .0173478   .0285132     0.61   0.543     -.038537    .0732326
        dummy2_213 |   .0456936   .0278309     1.64   0.101    -.0088539    .1002412
        dummy2_214 |  -.0030174   .0273076    -0.11   0.912    -.0565393    .0505046
        dummy2_215 |   .0048795   .0273206     0.18   0.858     -.048668    .0584269
        dummy2_216 |   .0221377   .0273506     0.81   0.418    -.0314685    .0757439
        dummy2_217 |   .0071838   .0273083     0.26   0.793    -.0463395    .0607072
        dummy2_218 |   .0448283   .0273179     1.64   0.101    -.0087139    .0983705
        dummy2_219 |  -.0035399   .0273127    -0.13   0.897    -.0570719     .049992
        dummy2_220 |  -.0025083    .027327    -0.09   0.927    -.0560683    .0510517
        dummy2_221 |   .0301609   .0281219     1.07   0.283    -.0249571    .0852789
        dummy2_222 |  -.0063423   .0284568    -0.22   0.824    -.0621165    .0494319
        dummy2_223 |   .0124736   .0279205     0.45   0.655    -.0422495    .0671967
        dummy2_224 |    .013375    .029134     0.46   0.646    -.0437265    .0704765
        dummy2_225 |   .0046133   .0280867     0.16   0.870    -.0504357    .0596623
        dummy2_226 |   .0211771   .0278631     0.76   0.447    -.0334335    .0757878
        dummy2_227 |  -.0063236   .0287983    -0.22   0.826    -.0627672    .0501201
        dummy2_228 |   .0123737   .0287106     0.43   0.666    -.0438979    .0686454
        dummy2_229 |   .0154245    .027934     0.55   0.581    -.0393251    .0701741
        dummy2_230 |    .044786   .0279025     1.61   0.108    -.0099019     .099474
        dummy2_231 |   .0362124   .0279686     1.29   0.195     -.018605    .0910298
        dummy2_232 |   .0269637   .0281834     0.96   0.339    -.0282748    .0822022
        dummy2_233 |   .0042018   .0296775     0.14   0.887    -.0539649    .0623686
        dummy2_234 |   .0063503   .0295998     0.21   0.830    -.0516642    .0643648
        dummy2_235 |   .0071405   .0281067     0.25   0.799    -.0479476    .0622286
        dummy2_236 |   .0324131   .0280153     1.16   0.247     -.022496    .0873221
        dummy2_237 |   .0319722   .0278664     1.15   0.251    -.0226449    .0865893
        dummy2_238 |     .02345   .0278847     0.84   0.400     -.031203    .0781029
        dummy2_239 |   .0473275   .0278398     1.70   0.089    -.0072374    .1018925
        dummy2_240 |   .0784277   .0278636     2.81   0.005      .023816    .1330394
        dummy2_241 |   .0291953   .0289435     1.01   0.313    -.0275329    .0859236
        dummy2_242 |   .0240995   .0278499     0.87   0.387    -.0304853    .0786843
        dummy2_243 |    .033354   .0263068     1.27   0.205    -.0182064    .0849144
        dummy2_244 |  -.0392355   .0276519    -1.42   0.156    -.0934321    .0149611
        dummy2_245 |   .0250323   .0262732     0.95   0.341    -.0264622    .0765269
        dummy2_246 |   .0390792   .0270482     1.44   0.149    -.0139343    .0920928
        dummy2_247 |   .0148024   .0262726     0.56   0.573    -.0366909    .0662958
        dummy2_248 |    .039574   .0262366     1.51   0.131    -.0118487    .0909967
        dummy2_249 |   .0857041   .0349956     2.45   0.014     .0171141    .1542941
        dummy2_250 |   .0079972   .0271683     0.29   0.768    -.0452517    .0612461
        dummy2_251 |   .0406627   .0262512     1.55   0.121    -.0107886     .092114
        dummy2_252 |   .0313911   .0262667     1.20   0.232    -.0200907    .0828729
        dummy2_253 |   .0393058   .0262634     1.50   0.134    -.0121695    .0907812
        dummy2_254 |   .0363942   .0262942     1.38   0.166    -.0151414    .0879298
        dummy2_255 |   .1274023   .0266344     4.78   0.000     .0751999    .1796046
        dummy2_256 |   .0540036     .02725     1.98   0.048     .0005945    .1074126
        dummy2_257 |   .0395459   .0265281     1.49   0.136    -.0124482      .09154
        dummy2_258 |   .0144264   .0268421     0.54   0.591    -.0381832     .067036
        dummy2_259 |  -.0088124   .0262339    -0.34   0.737    -.0602299     .042605
        dummy2_260 |   .0128856   .0263827     0.49   0.625    -.0388235    .0645948
        dummy2_261 |   .0255199   .0262316     0.97   0.331     -.025893    .0769329
        dummy2_262 |   .0287196   .0262654     1.09   0.274    -.0227596    .0801988
        dummy2_263 |   .0028878   .0282764     0.10   0.919     -.052533    .0583086
             _cons |  -.0602634   .0426721    -1.41   0.158    -.1438992    .0233725
------------------------------------------------------------------------------------
Underidentification test (Anderson canon. corr. LM statistic):         436.376
                                                   Chi-sq(4) P-val =    0.0000
------------------------------------------------------------------------------
Weak identification test (Cragg-Donald Wald F statistic):              121.652
Stock-Yogo weak ID test critical values:  5% maximal IV relative bias    16.85
                                         10% maximal IV relative bias    10.27
                                         20% maximal IV relative bias     6.71
                                         30% maximal IV relative bias     5.34
                                         10% maximal IV size             24.58
                                         15% maximal IV size             13.96
                                         20% maximal IV size             10.26
                                         25% maximal IV size              8.31
Source: Stock-Yogo (2005).  Reproduced by permission.
------------------------------------------------------------------------------
Sargan statistic (overidentification test of all instruments):           3.717
                                                   Chi-sq(3) P-val =    0.2937
------------------------------------------------------------------------------
Instrumented:         L.CPIequalw
Included instruments: tfpleadershipklems L.tecnogapklems ind_trend L.tradelib
                      L.pmr y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10 dummy2_1
                      dummy2_2 dummy2_3 dummy2_4 dummy2_5 dummy2_6 dummy2_7
                      dummy2_8 dummy2_9 dummy2_10 dummy2_11 dummy2_12 dummy2_13
                      dummy2_14 dummy2_15 dummy2_16 dummy2_17 dummy2_18
                      dummy2_19 dummy2_20 dummy2_21 dummy2_22 dummy2_23
                      dummy2_24 dummy2_25 dummy2_26 dummy2_27 dummy2_28
                      dummy2_29 dummy2_30 dummy2_31 dummy2_32 dummy2_33
                      dummy2_34 dummy2_35 dummy2_36 dummy2_37 dummy2_38
                      dummy2_39 dummy2_40 dummy2_41 dummy2_42 dummy2_43
                      dummy2_44 dummy2_45 dummy2_47 dummy2_48 dummy2_50
                      dummy2_51 dummy2_52 dummy2_53 dummy2_54 dummy2_55
                      dummy2_56 dummy2_57 dummy2_58 dummy2_59 dummy2_60
                      dummy2_61 dummy2_62 dummy2_63 dummy2_64 dummy2_65
                      dummy2_66 dummy2_67 dummy2_68 dummy2_69 dummy2_70
                      dummy2_71 dummy2_72 dummy2_73 dummy2_74 dummy2_75
                      dummy2_76 dummy2_77 dummy2_78 dummy2_79 dummy2_80
                      dummy2_81 dummy2_82 dummy2_83 dummy2_84 dummy2_85
                      dummy2_86 dummy2_87 dummy2_88 dummy2_89 dummy2_90
                      dummy2_91 dummy2_92 dummy2_93 dummy2_94 dummy2_95
                      dummy2_96 dummy2_97 dummy2_98 dummy2_99 dummy2_100
                      dummy2_101 dummy2_102 dummy2_103 dummy2_104 dummy2_105
                      dummy2_106 dummy2_109 dummy2_111 dummy2_112 dummy2_113
                      dummy2_114 dummy2_115 dummy2_116 dummy2_117 dummy2_118
                      dummy2_119 dummy2_120 dummy2_121 dummy2_122 dummy2_123
                      dummy2_124 dummy2_125 dummy2_126 dummy2_127 dummy2_128
                      dummy2_129 dummy2_130 dummy2_131 dummy2_132 dummy2_133
                      dummy2_134 dummy2_135 dummy2_136 dummy2_137 dummy2_138
                      dummy2_140 dummy2_141 dummy2_142 dummy2_143 dummy2_144
                      dummy2_145 dummy2_146 dummy2_147 dummy2_148 dummy2_149
                      dummy2_150 dummy2_151 dummy2_152 dummy2_153 dummy2_154
                      dummy2_155 dummy2_156 dummy2_157 dummy2_158 dummy2_159
                      dummy2_160 dummy2_161 dummy2_162 dummy2_163 dummy2_164
                      dummy2_165 dummy2_166 dummy2_167 dummy2_168 dummy2_169
                      dummy2_170 dummy2_171 dummy2_172 dummy2_173 dummy2_174
                      dummy2_175 dummy2_176 dummy2_177 dummy2_178 dummy2_179
                      dummy2_180 dummy2_181 dummy2_182 dummy2_183 dummy2_184
                      dummy2_185 dummy2_186 dummy2_187 dummy2_188 dummy2_189
                      dummy2_190 dummy2_191 dummy2_192 dummy2_193 dummy2_194
                      dummy2_197 dummy2_198 dummy2_199 dummy2_200 dummy2_201
                      dummy2_202 dummy2_203 dummy2_204 dummy2_205 dummy2_206
                      dummy2_207 dummy2_208 dummy2_209 dummy2_210 dummy2_211
                      dummy2_212 dummy2_213 dummy2_214 dummy2_215 dummy2_216
                      dummy2_217 dummy2_218 dummy2_219 dummy2_220 dummy2_221
                      dummy2_222 dummy2_223 dummy2_224 dummy2_225 dummy2_226
                      dummy2_227 dummy2_228 dummy2_229 dummy2_230 dummy2_231
                      dummy2_232 dummy2_233 dummy2_234 dummy2_235 dummy2_236
                      dummy2_237 dummy2_238 dummy2_239 dummy2_240 dummy2_241
                      dummy2_242 dummy2_243 dummy2_244 dummy2_245 dummy2_246
                      dummy2_247 dummy2_248 dummy2_249 dummy2_250 dummy2_251
                      dummy2_252 dummy2_253 dummy2_254 dummy2_255 dummy2_256
                      dummy2_257 dummy2_258 dummy2_259 dummy2_260 dummy2_261
                      dummy2_262 dummy2_263
Excluded instruments: L.per108 L.per403 L.per404 L.per505
Dropped collinear:    y_1 y_11 dummy2_46 dummy2_49 dummy2_107 dummy2_108
                      dummy2_110 dummy2_139 dummy2_195 dummy2_196 dummy2_264
------------------------------------------------------------------------------

. *ivendog
. eststo table4_3

. ivreg2 tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.tradelib  y_*  dummy*  ( l.CPIequal l.pmr= l.p
> er108  l.per403  l.per404 l.per505)  if tfpcorrectedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & 
> pcmpoolklems<3, first
Warning - collinearities detected
Vars dropped:       y_1 y_11 dummy2_46 dummy2_49 dummy2_107 dummy2_108
                    dummy2_110 dummy2_139 dummy2_195 dummy2_196 dummy2_264

First-stage regressions
-----------------------

First-stage regression of L.CPIequalw:

OLS estimation
--------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1847
                                                      F(272,  1574) =    44.86
                                                      Prob > F      =   0.0000
Total (centered) SS     =  20.40347091                Centered R2   =   0.8857
Total (uncentered) SS   =  354.3365143                Uncentered R2 =   0.9934
Residual SS             =  2.331250309                Root MSE      =   .03849

------------------------------------------------------------------------------------
       L.CPIequalw |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0134048   .0121299     1.11   0.269    -.0103876    .0371972
                   |
     tecnogapklems |
               L1. |   .0005895   .0026147     0.23   0.822    -.0045392    .0057183
                   |
         ind_trend |  -.0279088    .015507    -1.80   0.072    -.0583253    .0025077
                   |
          tradelib |
               L1. |  -.0026897   .0023575    -1.14   0.254    -.0073139    .0019344
                   |
               y_2 |  -.0378993   .0049085    -7.72   0.000    -.0475273   -.0282714
               y_3 |  -.0187035    .004788    -3.91   0.000     -.028095    -.009312
               y_4 |  -.0278028    .004711    -5.90   0.000    -.0370433   -.0185623
               y_5 |  -.0569666   .0042777   -13.32   0.000    -.0653572   -.0485759
               y_6 |  -.0759928   .0043276   -17.56   0.000    -.0844813   -.0675043
               y_7 |  -.0545105   .0041543   -13.12   0.000    -.0626591    -.046362
               y_8 |  -.0370248   .0041357    -8.95   0.000    -.0451369   -.0289128
               y_9 |  -.0121212   .0041722    -2.91   0.004    -.0203048   -.0039376
              y_10 |  -.0055556   .0042111    -1.32   0.187    -.0138155    .0027042
          dummy2_1 |  -.0088506   .0255184    -0.35   0.729    -.0589042    .0412031
          dummy2_2 |  -.0087065   .0257176    -0.34   0.735    -.0591508    .0417378
          dummy2_3 |  -.0062183   .0254346    -0.24   0.807    -.0561076    .0436709
          dummy2_4 |   -.003732   .0258018    -0.14   0.885    -.0543415    .0468775
          dummy2_5 |  -.0076597   .0254102    -0.30   0.763     -.057501    .0421817
          dummy2_6 |  -.0072016   .0254849    -0.28   0.778    -.0571894    .0427863
          dummy2_7 |  -.0033628    .026063    -0.13   0.897    -.0544847    .0477591
          dummy2_8 |  -.0023361   .0260813    -0.09   0.929    -.0534939    .0488216
          dummy2_9 |  -.0049473   .0255797    -0.19   0.847    -.0551211    .0452266
         dummy2_10 |  -.0059986   .0255252    -0.24   0.814    -.0560655    .0440683
         dummy2_11 |  -.0052929   .0255363    -0.21   0.836    -.0553815    .0447958
         dummy2_12 |   .0002639   .0264014     0.01   0.992    -.0515216    .0520495
         dummy2_13 |   .0122897   .0331849     0.37   0.711    -.0528015    .0773809
         dummy2_14 |  -.0079921   .0305107    -0.26   0.793    -.0678379    .0518538
         dummy2_15 |  -.0053142   .0255436    -0.21   0.835    -.0554173    .0447889
         dummy2_16 |  -.0088869   .0254766    -0.35   0.727    -.0588585    .0410848
         dummy2_17 |  -.0082051   .0254543    -0.32   0.747    -.0581331    .0417228
         dummy2_18 |  -.0080898   .0255869    -0.32   0.752    -.0582777    .0420981
         dummy2_19 |  -.0082216   .0254343    -0.32   0.747    -.0581103    .0416671
         dummy2_20 |  -.0093291    .025481    -0.37   0.714    -.0593094    .0406513
         dummy2_21 |  -.0084051   .0259565    -0.32   0.746    -.0593181    .0425079
         dummy2_22 |  -.0078949     .02554    -0.31   0.757    -.0579908    .0422011
         dummy2_23 |  -.1601865    .018077    -8.86   0.000    -.1956439    -.124729
         dummy2_24 |  -.1542158   .0191837    -8.04   0.000    -.1918441   -.1165875
         dummy2_25 |  -.1582658   .0180488    -8.77   0.000    -.1936681   -.1228636
         dummy2_26 |  -.1558344   .0187434    -8.31   0.000     -.192599   -.1190698
         dummy2_27 |  -.1594161   .0180982    -8.81   0.000    -.1949152    -.123917
         dummy2_28 |  -.1581509   .0188243    -8.40   0.000    -.1950743   -.1212275
         dummy2_29 |  -.1406574   .0239424    -5.87   0.000    -.1876198    -.093695
         dummy2_30 |  -.1515989   .0195364    -7.76   0.000     -.189919   -.1132788
         dummy2_31 |  -.1412968   .0193516    -7.30   0.000    -.1792545   -.1033391
         dummy2_32 |  -.1594402   .0181192    -8.80   0.000    -.1949805   -.1238998
         dummy2_33 |  -.1563942   .0183247    -8.53   0.000    -.1923376   -.1204508
         dummy2_34 |   -.156749   .0183959    -8.52   0.000    -.1928321   -.1206659
         dummy2_35 |  -.1388173   .0207584    -6.69   0.000    -.1795343   -.0981004
         dummy2_36 |  -.1412838   .0204889    -6.90   0.000    -.1814723   -.1010954
         dummy2_37 |  -.1581109    .018264    -8.66   0.000    -.1939352   -.1222866
         dummy2_38 |  -.1631916   .0189986    -8.59   0.000    -.2004569   -.1259264
         dummy2_39 |  -.1603554    .018058    -8.88   0.000    -.1957756   -.1249351
         dummy2_40 |    -.15999   .0180396    -8.87   0.000    -.1953741   -.1246059
         dummy2_41 |  -.1596365    .017952    -8.89   0.000    -.1948488   -.1244242
         dummy2_42 |  -.1656556   .0190551    -8.69   0.000    -.2030317   -.1282796
         dummy2_43 |  -.1639066   .0189524    -8.65   0.000    -.2010811    -.126732
         dummy2_44 |  -.1597528   .0180077    -8.87   0.000    -.1950743   -.1244312
         dummy2_45 |  -.4233008      .0322   -13.15   0.000    -.4864603   -.3601413
         dummy2_47 |  -.4199679    .032184   -13.05   0.000    -.4830958   -.3568399
         dummy2_48 |  -.3944146   .0280636   -14.05   0.000    -.4494605   -.3393687
         dummy2_50 |  -.3991202   .0275399   -14.49   0.000    -.4531389   -.3451015
         dummy2_51 |  -.4232534   .0422656   -10.01   0.000    -.5061563   -.3403505
         dummy2_52 |  -.4177293   .0324557   -12.87   0.000    -.4813903   -.3540684
         dummy2_53 |  -.4195059   .0321831   -13.03   0.000    -.4826323   -.3563796
         dummy2_54 |  -.4207033   .0321578   -13.08   0.000      -.48378   -.3576266
         dummy2_55 |  -.4199558   .0321744   -13.05   0.000    -.4830651   -.3568465
         dummy2_56 |  -.4173941   .0323087   -12.92   0.000    -.4807668   -.3540215
         dummy2_57 |  -.3959932   .0279097   -14.19   0.000    -.4507374   -.3412491
         dummy2_58 |  -.3953126   .0279254   -14.16   0.000    -.4500874   -.3405377
         dummy2_59 |  -.4193738   .0322413   -13.01   0.000    -.4826142   -.3561335
         dummy2_60 |  -.4235499   .0322062   -13.15   0.000    -.4867215   -.3603783
         dummy2_61 |  -.4224489   .0321503   -13.14   0.000    -.4855109   -.3593869
         dummy2_62 |  -.4213773   .0321403   -13.11   0.000    -.4844195   -.3583351
         dummy2_63 |  -.4218133   .0321408   -13.12   0.000    -.4848566   -.3587701
         dummy2_64 |  -.4235366   .0321879   -13.16   0.000    -.4866723   -.3604009
         dummy2_65 |  -.4222941   .0322185   -13.11   0.000    -.4854897   -.3590985
         dummy2_66 |  -.4003832   .0275132   -14.55   0.000    -.4543497   -.3464167
         dummy2_67 |  -.1590865   .0189144    -8.41   0.000    -.1961866   -.1219864
         dummy2_68 |  -.1457011   .0226646    -6.43   0.000     -.190157   -.1012451
         dummy2_69 |  -.1581674   .0189077    -8.37   0.000    -.1952544   -.1210805
         dummy2_70 |  -.1511456   .0204042    -7.41   0.000     -.191168   -.1111233
         dummy2_71 |  -.1583994   .0188342    -8.41   0.000    -.1953422   -.1214567
         dummy2_72 |  -.1587826   .0188033    -8.44   0.000    -.1956648   -.1219004
         dummy2_73 |  -.1714044   .0250269    -6.85   0.000    -.2204941   -.1223147
         dummy2_74 |   -.157441   .0191882    -8.21   0.000    -.1950782   -.1198039
         dummy2_75 |   -.158239   .0188222    -8.41   0.000    -.1951582   -.1213198
         dummy2_76 |  -.1592889   .0188134    -8.47   0.000    -.1961908    -.122387
         dummy2_77 |  -.1580999   .0188246    -8.40   0.000    -.1950239   -.1211759
         dummy2_78 |  -.1584495   .0188157    -8.42   0.000     -.195356   -.1215429
         dummy2_79 |  -.1576149   .0191125    -8.25   0.000    -.1951035   -.1201264
         dummy2_80 |  -.1574986   .0194347    -8.10   0.000    -.1956192    -.119378
         dummy2_81 |  -.1575942    .018928    -8.33   0.000     -.194721   -.1204674
         dummy2_82 |  -.1604772   .0189928    -8.45   0.000    -.1977311   -.1232233
         dummy2_83 |  -.1599673   .0187851    -8.52   0.000    -.1968138   -.1231208
         dummy2_84 |  -.1596756   .0188323    -8.48   0.000    -.1966147   -.1227364
         dummy2_85 |  -.1596932   .0187789    -8.50   0.000    -.1965275   -.1228589
         dummy2_86 |  -.1597238   .0187795    -8.51   0.000    -.1965592   -.1228884
         dummy2_87 |  -.1603388   .0193826    -8.27   0.000    -.1983571   -.1223204
         dummy2_88 |  -.1594374   .0187776    -8.49   0.000    -.1962691   -.1226056
         dummy2_89 |  -.0620863   .0186241    -3.33   0.001    -.0986169   -.0255557
         dummy2_90 |  -.0314087   .0335333    -0.94   0.349    -.0971833    .0343659
         dummy2_91 |  -.0608045   .0300942    -2.02   0.044    -.1198335   -.0017756
         dummy2_92 |  -.0556841   .0308253    -1.81   0.071     -.116147    .0047788
         dummy2_93 |   -.060018   .0301995    -1.99   0.047    -.1192535   -.0007825
         dummy2_94 |  -.0580345   .0303029    -1.92   0.056    -.1174728    .0014038
         dummy2_95 |  -.0685194   .0406999    -1.68   0.092    -.1483511    .0113123
         dummy2_96 |   -.055406   .0308555    -1.80   0.073    -.1159282    .0051163
         dummy2_97 |  -.0547283   .0308537    -1.77   0.076    -.1152469    .0057904
         dummy2_98 |  -.0602597   .0301351    -2.00   0.046    -.1193689   -.0011504
         dummy2_99 |  -.0554251   .0306911    -1.81   0.071    -.1156248    .0047746
        dummy2_100 |   -.049424   .0321073    -1.54   0.124    -.1124017    .0135537
        dummy2_101 |  -.0488965   .0322918    -1.51   0.130    -.1122359    .0144429
        dummy2_102 |  -.0537337   .0309733    -1.73   0.083    -.1144869    .0070194
        dummy2_103 |  -.0581038   .0305088    -1.90   0.057     -.117946    .0017383
        dummy2_104 |  -.0557316   .0214351    -2.60   0.009    -.0977758   -.0136873
        dummy2_105 |   -.061979   .0185746    -3.34   0.001    -.0984127   -.0255454
        dummy2_106 |  -.0623783   .0185517    -3.36   0.001     -.098767   -.0259896
        dummy2_109 |  -.0628098    .019287    -3.26   0.001    -.1006406   -.0249789
        dummy2_111 |  -.1901854   .0176826   -10.76   0.000    -.2248693   -.1555015
        dummy2_112 |  -.1814449   .0188958    -9.60   0.000    -.2185084   -.1443813
        dummy2_113 |  -.1879371   .0177156   -10.61   0.000    -.2226858   -.1531884
        dummy2_114 |  -.1890129   .0176442   -10.71   0.000    -.2236215   -.1544042
        dummy2_115 |  -.1887518   .0175903   -10.73   0.000    -.2232547   -.1542489
        dummy2_116 |  -.1886869   .0175734   -10.74   0.000    -.2231566   -.1542172
        dummy2_117 |  -.1892386   .0198605    -9.53   0.000    -.2281944   -.1502828
        dummy2_118 |  -.1855554   .0184242   -10.07   0.000    -.2216939    -.149417
        dummy2_119 |    -.18869   .0175796   -10.73   0.000     -.223172    -.154208
        dummy2_120 |  -.1899148    .017607   -10.79   0.000    -.2244505   -.1553792
        dummy2_121 |  -.1883552   .0176326   -10.68   0.000     -.222941   -.1537693
        dummy2_122 |  -.1884552   .0176207   -10.70   0.000    -.2230177   -.1538927
        dummy2_123 |  -.1874903   .0179575   -10.44   0.000    -.2227133   -.1522672
        dummy2_124 |  -.1862153   .0188735    -9.87   0.000    -.2232352   -.1491955
        dummy2_125 |  -.1895983   .0175833   -10.78   0.000    -.2240875   -.1551091
        dummy2_126 |   -.190276   .0177352   -10.73   0.000    -.2250631   -.1554889
        dummy2_127 |  -.1900861   .0175366   -10.84   0.000    -.2244837   -.1556885
        dummy2_128 |  -.1896674   .0176245   -10.76   0.000    -.2242375   -.1550974
        dummy2_129 |  -.1896541   .0174739   -10.85   0.000    -.2239287   -.1553795
        dummy2_130 |  -.1896816   .0174779   -10.85   0.000     -.223964   -.1553992
        dummy2_131 |    -.18999   .0179808   -10.57   0.000    -.2252589   -.1547211
        dummy2_132 |  -.1896046   .0175134   -10.83   0.000    -.2239567   -.1552524
        dummy2_133 |  -.1795574   .0213861    -8.40   0.000    -.2215056   -.1376092
        dummy2_134 |  -.1656133   .0341343    -4.85   0.000    -.2325668   -.0986599
        dummy2_135 |  -.1581251    .029201    -5.42   0.000    -.2154021   -.1008481
        dummy2_136 |  -.1868763   .0188295    -9.92   0.000    -.2238098   -.1499428
        dummy2_137 |  -.1951103    .017715   -11.01   0.000    -.2298577   -.1603628
        dummy2_138 |  -.1768345   .0219615    -8.05   0.000    -.2199115   -.1337576
        dummy2_140 |  -.1752354   .0228124    -7.68   0.000    -.2199814   -.1304895
        dummy2_141 |  -.1884014   .0188057   -10.02   0.000    -.2252882   -.1515146
        dummy2_142 |   -.191178   .0183439   -10.42   0.000    -.2271591   -.1551969
        dummy2_143 |  -.1647969   .0263674    -6.25   0.000    -.2165158    -.113078
        dummy2_144 |  -.1695031   .0240352    -7.05   0.000    -.2166475   -.1223587
        dummy2_145 |  -.1427025   .0360221    -3.96   0.000    -.2133588   -.0720462
        dummy2_146 |  -.1664918   .0253411    -6.57   0.000    -.2161977   -.1167859
        dummy2_147 |  -.1916766   .0181134   -10.58   0.000    -.2272055   -.1561477
        dummy2_148 |  -.1689774   .0252652    -6.69   0.000    -.2185343   -.1194205
        dummy2_149 |  -.1009822   .0580957    -1.74   0.082    -.2149352    .0129709
        dummy2_150 |    -.15874   .0292156    -5.43   0.000    -.2160455   -.1014344
        dummy2_151 |  -.1386701   .0384999    -3.60   0.000    -.2141867   -.0631536
        dummy2_152 |  -.1703813   .0242746    -7.02   0.000    -.2179953   -.1227673
        dummy2_153 |  -.1187328   .0492202    -2.41   0.016    -.2152769   -.0221888
        dummy2_154 |   -.094676    .061323    -1.54   0.123    -.2149593    .0256073
        dummy2_155 |  -.0261488   .0198662    -1.32   0.188    -.0651157    .0128182
        dummy2_156 |  -.0949709   .0407899    -2.33   0.020    -.1749791   -.0149628
        dummy2_157 |  -.0239221   .0199001    -1.20   0.230    -.0629556    .0151114
        dummy2_158 |  -.0099195   .0251103    -0.40   0.693    -.0591727    .0393337
        dummy2_159 |  -.0222425    .020243    -1.10   0.272    -.0619486    .0174636
        dummy2_160 |  -.0253345   .0197989    -1.28   0.201    -.0641695    .0135006
        dummy2_161 |  -.0283732   .0228568    -1.24   0.215    -.0732061    .0164597
        dummy2_162 |  -.0218711   .0204223    -1.07   0.284    -.0619288    .0181866
        dummy2_163 |   -.020839    .020462    -1.02   0.309    -.0609746    .0192966
        dummy2_164 |  -.0254556    .019844    -1.28   0.200    -.0643791    .0134679
        dummy2_165 |  -.0234636   .0200281    -1.17   0.242    -.0627483     .015821
        dummy2_166 |  -.0218731    .020304    -1.08   0.282    -.0616989    .0179527
        dummy2_167 |  -.0014744   .0317012    -0.05   0.963    -.0636555    .0607066
        dummy2_168 |  -.0101592   .0234826    -0.43   0.665    -.0562197    .0359013
        dummy2_169 |  -.0252517   .0198492    -1.27   0.203    -.0641853     .013682
        dummy2_170 |  -.0277333    .019744    -1.40   0.160    -.0664605     .010994
        dummy2_171 |  -.0272702   .0197318    -1.38   0.167    -.0659735    .0114331
        dummy2_172 |  -.0269145   .0197352    -1.36   0.173    -.0656245    .0117954
        dummy2_173 |  -.0273857   .0197334    -1.39   0.165    -.0660921    .0113207
        dummy2_174 |  -.0283715   .0197649    -1.44   0.151    -.0671397    .0103968
        dummy2_175 |  -.0275814   .0198889    -1.39   0.166     -.066593    .0114301
        dummy2_176 |  -.0271231   .0197364    -1.37   0.170    -.0658355    .0115894
        dummy2_177 |  -.2896053   .0309707    -9.35   0.000    -.3503534   -.2288571
        dummy2_178 |  -.2636438   .0378071    -6.97   0.000    -.3378013   -.1894864
        dummy2_179 |  -.2864346   .0309625    -9.25   0.000    -.3471667   -.2257026
        dummy2_180 |  -.2855517   .0310343    -9.20   0.000    -.3464246   -.2246787
        dummy2_181 |     -.2868   .0309371    -9.27   0.000    -.3474823   -.2261178
        dummy2_182 |  -.2871276   .0309162    -9.29   0.000    -.3477689   -.2264863
        dummy2_183 |  -.2834833   .0310745    -9.12   0.000     -.344435   -.2225316
        dummy2_184 |  -.2846176   .0312639    -9.10   0.000     -.345941   -.2232943
        dummy2_185 |  -.2857838   .0309645    -9.23   0.000    -.3465197   -.2250478
        dummy2_186 |  -.2882832   .0309255    -9.32   0.000    -.3489427   -.2276238
        dummy2_187 |  -.2867145   .0309348    -9.27   0.000    -.3473923   -.2260367
        dummy2_188 |  -.2827887   .0312002    -9.06   0.000    -.3439871   -.2215903
        dummy2_189 |  -.2804547   .0317374    -8.84   0.000    -.3427067   -.2182027
        dummy2_190 |  -.2811481   .0315589    -8.91   0.000    -.3430501   -.2192462
        dummy2_191 |  -.2875653   .0309388    -9.29   0.000    -.3482508   -.2268798
        dummy2_192 |  -.2895689   .0309397    -9.36   0.000    -.3502563   -.2288814
        dummy2_193 |   -.289033   .0309206    -9.35   0.000    -.3496828   -.2283831
        dummy2_194 |  -.2876052   .0309145    -9.30   0.000    -.3482432   -.2269672
        dummy2_197 |  -.2883767   .0309242    -9.33   0.000    -.3490338   -.2277196
        dummy2_198 |    -.28802   .0309089    -9.32   0.000     -.348647    -.227393
        dummy2_199 |   .0358607   .0178122     2.01   0.044     .0009225    .0707989
        dummy2_200 |   .0558613   .0240903     2.32   0.021     .0086089    .1031137
        dummy2_201 |   .0386244   .0178517     2.16   0.031     .0036089      .07364
        dummy2_202 |   .0525128   .0232722     2.26   0.024      .006865    .0981605
        dummy2_203 |   .0365802   .0177388     2.06   0.039     .0017861    .0713743
        dummy2_204 |   .0366622   .0177346     2.07   0.039     .0018763    .0714481
        dummy2_205 |   .0479605   .0197367     2.43   0.015     .0092474    .0866735
        dummy2_206 |   .0397204   .0179769     2.21   0.027     .0044592    .0749816
        dummy2_207 |   .0400761   .0180987     2.21   0.027      .004576    .0755761
        dummy2_208 |   .0378939   .0178666     2.12   0.034     .0028491    .0729387
        dummy2_209 |   .0385347   .0178516     2.16   0.031     .0035192    .0735501
        dummy2_210 |   .0390339   .0179279     2.18   0.030     .0038687    .0741991
        dummy2_211 |   .0575006   .0213661     2.69   0.007     .0155916    .0994097
        dummy2_212 |   .0386018    .018473     2.09   0.037     .0023676     .074836
        dummy2_213 |   .0385207   .0180192     2.14   0.033     .0031766    .0738648
        dummy2_214 |   .0358421    .017719     2.02   0.043     .0010869    .0705974
        dummy2_215 |   .0356989   .0177255     2.01   0.044     .0009307    .0704671
        dummy2_216 |   .0360585   .0177335     2.03   0.042     .0012746    .0708423
        dummy2_217 |    .036245    .017719     2.05   0.041     .0014897    .0710003
        dummy2_218 |   .0358314   .0177212     2.02   0.043     .0010717    .0705911
        dummy2_219 |   .0364949   .0177112     2.06   0.040     .0017549     .071235
        dummy2_220 |   .0367332   .0177231     2.07   0.038     .0019698    .0714967
        dummy2_221 |  -.1600723   .0178498    -8.97   0.000    -.1950842   -.1250604
        dummy2_222 |   -.160066   .0180682    -8.86   0.000    -.1955063   -.1246257
        dummy2_223 |  -.1587365   .0177353    -8.95   0.000    -.1935238   -.1239492
        dummy2_224 |  -.1546634   .0185998    -8.32   0.000    -.1911464   -.1181804
        dummy2_225 |  -.1578898   .0178608    -8.84   0.000    -.1929233   -.1228563
        dummy2_226 |   -.159695   .0176875    -9.03   0.000    -.1943885   -.1250014
        dummy2_227 |  -.1566877   .0183358    -8.55   0.000    -.1926528   -.1207226
        dummy2_228 |   -.157129   .0182735    -8.60   0.000    -.1929719   -.1212861
        dummy2_229 |  -.1589245    .017742    -8.96   0.000     -.193725    -.124124
        dummy2_230 |  -.1601004   .0177077    -9.04   0.000    -.1948336   -.1253671
        dummy2_231 |  -.1585003   .0177702    -8.92   0.000    -.1933562   -.1236445
        dummy2_232 |  -.1573599   .0179279    -8.78   0.000    -.1925249   -.1221949
        dummy2_233 |   -.154707   .0189608    -8.16   0.000    -.1918981   -.1175159
        dummy2_234 |  -.1490235   .0189967    -7.84   0.000     -.186285   -.1117619
        dummy2_235 |  -.1582027    .017869    -8.85   0.000    -.1932523   -.1231531
        dummy2_236 |  -.1612308   .0177649    -9.08   0.000    -.1960761   -.1263855
        dummy2_237 |  -.1610394   .0176724    -9.11   0.000    -.1957033   -.1263756
        dummy2_238 |  -.1605631   .0176882    -9.08   0.000     -.195258   -.1258682
        dummy2_239 |  -.1606561   .0176613    -9.10   0.000    -.1952983   -.1260139
        dummy2_240 |  -.1608198   .0176726    -9.10   0.000    -.1954841   -.1261554
        dummy2_241 |  -.1614042   .0183773    -8.78   0.000    -.1974507   -.1253578
        dummy2_242 |  -.1606644   .0176648    -9.10   0.000    -.1953133   -.1260154
        dummy2_243 |  -.0011306   .0172644    -0.07   0.948    -.0349942     .032733
        dummy2_244 |   .0013288   .0181466     0.07   0.942    -.0342653    .0369229
        dummy2_245 |   .0002261   .0172424     0.01   0.990    -.0335945    .0340466
        dummy2_246 |   .0039652   .0177507     0.22   0.823    -.0308522    .0387827
        dummy2_247 |   .0004869    .017242     0.03   0.977    -.0333328    .0343067
        dummy2_248 |  -.0001378   .0172184    -0.01   0.994    -.0339112    .0336356
        dummy2_249 |  -.0017321   .0229764    -0.08   0.940    -.0467998    .0433355
        dummy2_250 |  -.0000853   .0178292    -0.00   0.996    -.0350568    .0348862
        dummy2_251 |   .0003944    .017228     0.02   0.982    -.0333977    .0341866
        dummy2_252 |  -.0000862   .0172382    -0.01   0.996    -.0338984    .0337259
        dummy2_253 |    .000652    .017236     0.04   0.970    -.0331559      .03446
        dummy2_254 |   .0009285   .0172562     0.05   0.957     -.032919    .0347759
        dummy2_255 |   .0008573   .0174795     0.05   0.961    -.0334283    .0351429
        dummy2_256 |  -.0025145   .0178838    -0.14   0.888    -.0375931     .032564
        dummy2_257 |   .0020267   .0174096     0.12   0.907    -.0321217     .036175
        dummy2_258 |  -.0012637   .0176151    -0.07   0.943    -.0358153    .0332878
        dummy2_259 |  -.0004839   .0172166    -0.03   0.978    -.0342538    .0332861
        dummy2_260 |  -.0003168   .0173141    -0.02   0.985     -.034278    .0336444
        dummy2_261 |  -.0001326   .0172151    -0.01   0.994    -.0338996    .0336343
        dummy2_262 |  -.0004497   .0172372    -0.03   0.979      -.03426    .0333607
        dummy2_263 |  -.0013588   .0185552    -0.07   0.942    -.0377543    .0350367
                   |
            per108 |
               L1. |   .0142742   .0011898    12.00   0.000     .0119405     .016608
                   |
            per403 |
               L1. |  -.0154639   .0012906   -11.98   0.000    -.0179954   -.0129325
                   |
            per404 |
               L1. |   .0072716   .0028131     2.58   0.010     .0017538    .0127895
                   |
            per505 |
               L1. |  -.0003435   .0029391    -0.12   0.907    -.0061084    .0054214
                   |
             _cons |   .5572128   .0125813    44.29   0.000     .5325349    .5818906
------------------------------------------------------------------------------------
Included instruments: tfpleadershipklems L.tecnogapklems ind_trend L.tradelib
                      y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10 dummy2_1 dummy2_2
                      dummy2_3 dummy2_4 dummy2_5 dummy2_6 dummy2_7 dummy2_8
                      dummy2_9 dummy2_10 dummy2_11 dummy2_12 dummy2_13 dummy2_14
                      dummy2_15 dummy2_16 dummy2_17 dummy2_18 dummy2_19
                      dummy2_20 dummy2_21 dummy2_22 dummy2_23 dummy2_24
                      dummy2_25 dummy2_26 dummy2_27 dummy2_28 dummy2_29
                      dummy2_30 dummy2_31 dummy2_32 dummy2_33 dummy2_34
                      dummy2_35 dummy2_36 dummy2_37 dummy2_38 dummy2_39
                      dummy2_40 dummy2_41 dummy2_42 dummy2_43 dummy2_44
                      dummy2_45 dummy2_47 dummy2_48 dummy2_50 dummy2_51
                      dummy2_52 dummy2_53 dummy2_54 dummy2_55 dummy2_56
                      dummy2_57 dummy2_58 dummy2_59 dummy2_60 dummy2_61
                      dummy2_62 dummy2_63 dummy2_64 dummy2_65 dummy2_66
                      dummy2_67 dummy2_68 dummy2_69 dummy2_70 dummy2_71
                      dummy2_72 dummy2_73 dummy2_74 dummy2_75 dummy2_76
                      dummy2_77 dummy2_78 dummy2_79 dummy2_80 dummy2_81
                      dummy2_82 dummy2_83 dummy2_84 dummy2_85 dummy2_86
                      dummy2_87 dummy2_88 dummy2_89 dummy2_90 dummy2_91
                      dummy2_92 dummy2_93 dummy2_94 dummy2_95 dummy2_96
                      dummy2_97 dummy2_98 dummy2_99 dummy2_100 dummy2_101
                      dummy2_102 dummy2_103 dummy2_104 dummy2_105 dummy2_106
                      dummy2_109 dummy2_111 dummy2_112 dummy2_113 dummy2_114
                      dummy2_115 dummy2_116 dummy2_117 dummy2_118 dummy2_119
                      dummy2_120 dummy2_121 dummy2_122 dummy2_123 dummy2_124
                      dummy2_125 dummy2_126 dummy2_127 dummy2_128 dummy2_129
                      dummy2_130 dummy2_131 dummy2_132 dummy2_133 dummy2_134
                      dummy2_135 dummy2_136 dummy2_137 dummy2_138 dummy2_140
                      dummy2_141 dummy2_142 dummy2_143 dummy2_144 dummy2_145
                      dummy2_146 dummy2_147 dummy2_148 dummy2_149 dummy2_150
                      dummy2_151 dummy2_152 dummy2_153 dummy2_154 dummy2_155
                      dummy2_156 dummy2_157 dummy2_158 dummy2_159 dummy2_160
                      dummy2_161 dummy2_162 dummy2_163 dummy2_164 dummy2_165
                      dummy2_166 dummy2_167 dummy2_168 dummy2_169 dummy2_170
                      dummy2_171 dummy2_172 dummy2_173 dummy2_174 dummy2_175
                      dummy2_176 dummy2_177 dummy2_178 dummy2_179 dummy2_180
                      dummy2_181 dummy2_182 dummy2_183 dummy2_184 dummy2_185
                      dummy2_186 dummy2_187 dummy2_188 dummy2_189 dummy2_190
                      dummy2_191 dummy2_192 dummy2_193 dummy2_194 dummy2_197
                      dummy2_198 dummy2_199 dummy2_200 dummy2_201 dummy2_202
                      dummy2_203 dummy2_204 dummy2_205 dummy2_206 dummy2_207
                      dummy2_208 dummy2_209 dummy2_210 dummy2_211 dummy2_212
                      dummy2_213 dummy2_214 dummy2_215 dummy2_216 dummy2_217
                      dummy2_218 dummy2_219 dummy2_220 dummy2_221 dummy2_222
                      dummy2_223 dummy2_224 dummy2_225 dummy2_226 dummy2_227
                      dummy2_228 dummy2_229 dummy2_230 dummy2_231 dummy2_232
                      dummy2_233 dummy2_234 dummy2_235 dummy2_236 dummy2_237
                      dummy2_238 dummy2_239 dummy2_240 dummy2_241 dummy2_242
                      dummy2_243 dummy2_244 dummy2_245 dummy2_246 dummy2_247
                      dummy2_248 dummy2_249 dummy2_250 dummy2_251 dummy2_252
                      dummy2_253 dummy2_254 dummy2_255 dummy2_256 dummy2_257
                      dummy2_258 dummy2_259 dummy2_260 dummy2_261 dummy2_262
                      dummy2_263 L.per108 L.per403 L.per404 L.per505
------------------------------------------------------------------------------
F test of excluded instruments:
  F(  4,  1574) =   116.87
  Prob > F      =   0.0000
Angrist-Pischke multivariate F test of excluded instruments:
  F(  3,  1574) =   155.06
  Prob > F      =   0.0000

First-stage regression of L.pmr:

OLS estimation
--------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1847
                                                      F(272,  1574) =   204.02
                                                      Prob > F      =   0.0000
Total (centered) SS     =   544.459182                Centered R2   =   0.9724
Total (uncentered) SS   =  6074.237273                Uncentered R2 =   0.9975
Residual SS             =  15.01702643                Root MSE      =   .09768

------------------------------------------------------------------------------------
             L.pmr |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0056544    .030786     0.18   0.854    -.0547315    .0660403
                   |
     tecnogapklems |
               L1. |  -.0128104   .0066363    -1.93   0.054    -.0258273    .0002066
                   |
         ind_trend |   .0298592   .0393573     0.76   0.448     -.047339    .1070574
                   |
          tradelib |
               L1. |  -.0009354   .0059834    -0.16   0.876    -.0126716    .0108009
                   |
               y_2 |   .5150764    .012458    41.35   0.000     .4906404    .5395125
               y_3 |   .5590409   .0121521    46.00   0.000     .5352048    .5828769
               y_4 |   .5807071   .0119567    48.57   0.000     .5572544    .6041599
               y_5 |   .5677054    .010857    52.29   0.000     .5464097    .5890011
               y_6 |   .3217703   .0109836    29.30   0.000     .3002262    .3433144
               y_7 |   .3175051   .0105437    30.11   0.000     .2968239    .3381864
               y_8 |   .2885174   .0104965    27.49   0.000     .2679287    .3091061
               y_9 |    .272506   .0105891    25.73   0.000     .2517356    .2932763
              y_10 |  -.0122876   .0106878    -1.15   0.250    -.0332514    .0086762
          dummy2_1 |   .0969654   .0647665     1.50   0.135    -.0300723    .2240032
          dummy2_2 |   .1076632    .065272     1.65   0.099    -.0203661    .2356926
          dummy2_3 |   .0935435   .0645539     1.45   0.148    -.0330772    .2201642
          dummy2_4 |   .0976377   .0654859     1.49   0.136     -.030811    .2260864
          dummy2_5 |   .0929495   .0644919     1.44   0.150    -.0335496    .2194485
          dummy2_6 |   .0989583   .0646814     1.53   0.126    -.0279126    .2258291
          dummy2_7 |   .1169609   .0661489     1.77   0.077    -.0127883      .24671
          dummy2_8 |   .1078656   .0661952     1.63   0.103    -.0219745    .2377057
          dummy2_9 |   .0969466   .0649221     1.49   0.136    -.0303964    .2242896
         dummy2_10 |   .0949367   .0647837     1.47   0.143    -.0321348    .2220082
         dummy2_11 |   .0962859   .0648119     1.49   0.138    -.0308409    .2234127
         dummy2_12 |   .0945339   .0670076     1.41   0.159    -.0368996    .2259674
         dummy2_13 |   .0654885   .0842243     0.78   0.437    -.0997152    .2306921
         dummy2_14 |   .0741725   .0774371     0.96   0.338    -.0777183    .2260632
         dummy2_15 |   .0932966   .0648306     1.44   0.150    -.0338668      .22046
         dummy2_16 |   .0971318   .0646605     1.50   0.133    -.0296979    .2239615
         dummy2_17 |   .0971809   .0646039     1.50   0.133    -.0295379    .2238997
         dummy2_18 |   .1041527   .0649403     1.60   0.109     -.023226    .2315313
         dummy2_19 |   .0956044   .0645532     1.48   0.139    -.0310148    .2222236
         dummy2_20 |   .0958709   .0646717     1.48   0.138    -.0309809    .2227227
         dummy2_21 |   .1150766   .0658785     1.75   0.081    -.0141423    .2442955
         dummy2_22 |   .1022291   .0648214     1.58   0.115    -.0249162    .2293744
         dummy2_23 |   1.444728   .0458799    31.49   0.000     1.354736     1.53472
         dummy2_24 |   1.462329   .0486889    30.03   0.000     1.366827    1.557831
         dummy2_25 |   1.444286   .0458085    31.53   0.000     1.354434    1.534138
         dummy2_26 |   1.453474   .0475713    30.55   0.000     1.360164    1.546783
         dummy2_27 |   1.447753   .0459338    31.52   0.000     1.357655     1.53785
         dummy2_28 |   1.435913   .0477768    30.05   0.000       1.3422    1.529626
         dummy2_29 |   1.397289   .0607667    22.99   0.000     1.278097    1.516481
         dummy2_30 |   1.452503   .0495841    29.29   0.000     1.355246    1.549761
         dummy2_31 |   1.431829   .0491151    29.15   0.000     1.335492    1.528167
         dummy2_32 |    1.44767   .0459872    31.48   0.000     1.357468    1.537873
         dummy2_33 |    1.44785   .0465087    31.13   0.000     1.356625    1.539076
         dummy2_34 |   1.451138   .0466895    31.08   0.000     1.359557    1.542718
         dummy2_35 |   1.436533   .0526854    27.27   0.000     1.333192    1.539874
         dummy2_36 |    1.47261   .0520016    28.32   0.000     1.370611     1.57461
         dummy2_37 |    1.44933   .0463547    31.27   0.000     1.358407    1.540254
         dummy2_38 |    1.45002   .0482191    30.07   0.000      1.35544    1.544601
         dummy2_39 |   1.446217   .0458318    31.55   0.000     1.356319    1.536115
         dummy2_40 |   1.446478    .045785    31.59   0.000     1.356672    1.536284
         dummy2_41 |   1.437503   .0455627    31.55   0.000     1.348133    1.526873
         dummy2_42 |   1.397571   .0483625    28.90   0.000      1.30271    1.492433
         dummy2_43 |   1.453009   .0481018    30.21   0.000     1.358659     1.54736
         dummy2_44 |   1.444342   .0457041    31.60   0.000     1.354694    1.533989
         dummy2_45 |   1.052711   .0817248    12.88   0.000     .8924096    1.213012
         dummy2_47 |   1.057764    .081684    12.95   0.000     .8975432    1.217985
         dummy2_48 |   1.089315   .0712263    15.29   0.000     .9496071    1.229024
         dummy2_50 |   1.089067   .0698972    15.58   0.000     .9519653    1.226168
         dummy2_51 |   1.074758   .1072717    10.02   0.000     .8643471    1.285168
         dummy2_52 |   1.061318   .0823737    12.88   0.000     .8997447    1.222892
         dummy2_53 |   1.049988   .0816819    12.85   0.000      .889771    1.210205
         dummy2_54 |   1.052566   .0816177    12.90   0.000     .8924748    1.212657
         dummy2_55 |   1.049575   .0816598    12.85   0.000     .8894014    1.209748
         dummy2_56 |   1.052347   .0820006    12.83   0.000     .8915046    1.213189
         dummy2_57 |   1.087528   .0708359    15.35   0.000     .9485849     1.22647
         dummy2_58 |    1.09132   .0708756    15.40   0.000     .9522999    1.230341
         dummy2_59 |   1.051265   .0818295    12.85   0.000      .890759    1.211772
         dummy2_60 |   1.056857   .0817405    12.93   0.000     .8965249    1.217188
         dummy2_61 |   1.048019   .0815987    12.84   0.000     .8879652    1.208072
         dummy2_62 |   1.052305   .0815731    12.90   0.000     .8923018    1.212308
         dummy2_63 |   1.048838   .0815744    12.86   0.000     .8888322    1.208844
         dummy2_64 |    1.04759   .0816941    12.82   0.000     .8873492     1.20783
         dummy2_65 |   1.061949   .0817715    12.99   0.000     .9015569    1.222342
         dummy2_66 |   1.085787   .0698296    15.55   0.000     .9488187    1.222756
         dummy2_67 |   .6607045   .0480054    13.76   0.000     .5665433    .7548658
         dummy2_68 |   .6788753   .0575235    11.80   0.000     .5660446     .791706
         dummy2_69 |   .6644191   .0479884    13.85   0.000     .5702911    .7585471
         dummy2_70 |   .6569037   .0517867    12.68   0.000     .5553256    .7584818
         dummy2_71 |   .6520916   .0478018    13.64   0.000     .5583296    .7458536
         dummy2_72 |   .6569242   .0477235    13.77   0.000     .5633159    .7505325
         dummy2_73 |   .7223887   .0635193    11.37   0.000     .5977975      .84698
         dummy2_74 |   .6727585   .0487003    13.81   0.000     .5772341    .7682829
         dummy2_75 |   .6547626   .0477714    13.71   0.000     .5610604    .7484649
         dummy2_76 |   .6561928    .047749    13.74   0.000     .5625345    .7498512
         dummy2_77 |   .6544281   .0477776    13.70   0.000     .5607137    .7481425
         dummy2_78 |   .6541249    .047755    13.70   0.000     .5604548     .747795
         dummy2_79 |    .655951   .0485081    13.52   0.000     .5608038    .7510983
         dummy2_80 |   .6605305   .0493259    13.39   0.000      .563779    .7572819
         dummy2_81 |   .6532907     .04804    13.60   0.000     .5590615      .74752
         dummy2_82 |   .6682426   .0482044    13.86   0.000      .573691    .7627942
         dummy2_83 |   .6550699   .0476772    13.74   0.000     .5615523    .7485875
         dummy2_84 |   .6621379   .0477972    13.85   0.000     .5683851    .7558906
         dummy2_85 |    .655241   .0476615    13.75   0.000     .5617542    .7487278
         dummy2_86 |   .6551971   .0476629    13.75   0.000     .5617075    .7486866
         dummy2_87 |   .6786598   .0491936    13.80   0.000     .5821679    .7751518
         dummy2_88 |   .6538324   .0476582    13.72   0.000     .5603521    .7473126
         dummy2_89 |   1.260051   .0472685    26.66   0.000     1.167335    1.352766
         dummy2_90 |   1.296236   .0851086    15.23   0.000     1.129298    1.463174
         dummy2_91 |   1.234738   .0763801    16.17   0.000      1.08492    1.384555
         dummy2_92 |   1.243855   .0782356    15.90   0.000     1.090398    1.397312
         dummy2_93 |   1.235689   .0766474    16.12   0.000     1.085347     1.38603
         dummy2_94 |   1.231947   .0769098    16.02   0.000      1.08109    1.382803
         dummy2_95 |   1.256469   .1032977    12.16   0.000     1.053853    1.459084
         dummy2_96 |   1.239583   .0783124    15.83   0.000     1.085976    1.393191
         dummy2_97 |   1.236302   .0783077    15.79   0.000     1.082703      1.3899
         dummy2_98 |   1.228568    .076484    16.06   0.000     1.078547    1.378589
         dummy2_99 |   1.233899    .077895    15.84   0.000      1.08111    1.386688
        dummy2_100 |   1.240766   .0814896    15.23   0.000     1.080927    1.400606
        dummy2_101 |   1.240086   .0819576    15.13   0.000     1.079328    1.400843
        dummy2_102 |   1.228699   .0786112    15.63   0.000     1.074505    1.382892
        dummy2_103 |   1.239955   .0774323    16.01   0.000     1.088074    1.391837
        dummy2_104 |   1.238385   .0544029    22.76   0.000     1.131676    1.345095
        dummy2_105 |    1.26112   .0471431    26.75   0.000      1.16865    1.353589
        dummy2_106 |   1.267791   .0470849    26.93   0.000     1.175435    1.360147
        dummy2_109 |    1.25709    .048951    25.68   0.000     1.161074    1.353106
        dummy2_111 |   1.135864    .044879    25.31   0.000     1.047835    1.223893
        dummy2_112 |   1.138892   .0479581    23.75   0.000     1.044824    1.232961
        dummy2_113 |   1.137941   .0449629    25.31   0.000     1.049747    1.226134
        dummy2_114 |   1.134688   .0447816    25.34   0.000      1.04685    1.222526
        dummy2_115 |   1.133555   .0446448    25.39   0.000     1.045986    1.221125
        dummy2_116 |    1.13332   .0446018    25.41   0.000     1.045835    1.220805
        dummy2_117 |   1.189044   .0504066    23.59   0.000     1.090173    1.287915
        dummy2_118 |   1.148659   .0467611    24.56   0.000     1.056939     1.24038
        dummy2_119 |   1.133645   .0446177    25.41   0.000     1.046128    1.221161
        dummy2_120 |    1.13442   .0446872    25.39   0.000     1.046768    1.222073
        dummy2_121 |   1.135446   .0447522    25.37   0.000     1.047666    1.223226
        dummy2_122 |   1.134719   .0447219    25.37   0.000     1.046998    1.222439
        dummy2_123 |   1.134653   .0455766    24.90   0.000     1.045256     1.22405
        dummy2_124 |    1.13582   .0479016    23.71   0.000     1.041862    1.229778
        dummy2_125 |   1.133249   .0446271    25.39   0.000     1.045715    1.220784
        dummy2_126 |   1.139003   .0450126    25.30   0.000     1.050713    1.227294
        dummy2_127 |   1.131941   .0445086    25.43   0.000     1.044639    1.219244
        dummy2_128 |   1.136266   .0447317    25.40   0.000     1.048526    1.224006
        dummy2_129 |   1.128582   .0443494    25.45   0.000     1.041592    1.215573
        dummy2_130 |   1.128823   .0443595    25.45   0.000     1.041813    1.215833
        dummy2_131 |   1.145395    .045636    25.10   0.000     1.055882    1.234909
        dummy2_132 |   1.131524   .0444497    25.46   0.000     1.044337    1.218711
        dummy2_133 |   .6111757   .0542786    11.26   0.000     .5047098    .7176416
        dummy2_134 |   .6497853    .086634     7.50   0.000     .4798551    .8197155
        dummy2_135 |   .5870123   .0741133     7.92   0.000     .4416412    .7323834
        dummy2_136 |    .611319   .0477899    12.79   0.000     .5175804    .7050575
        dummy2_137 |   .6210973   .0449612    13.81   0.000     .5329071    .7092875
        dummy2_138 |    .602915   .0557391    10.82   0.000     .4935843    .7122458
        dummy2_140 |   .6170482   .0578987    10.66   0.000     .5034814     .730615
        dummy2_141 |   .6143632   .0477294    12.87   0.000     .5207432    .7079832
        dummy2_142 |   .6167943   .0465575    13.25   0.000      .525473    .7081156
        dummy2_143 |   .5894063   .0669213     8.81   0.000      .458142    .7206707
        dummy2_144 |   .5981884   .0610022     9.81   0.000     .4785344    .7178425
        dummy2_145 |   .5699972   .0914253     6.23   0.000     .3906691    .7493254
        dummy2_146 |   .5948277   .0643166     9.25   0.000     .4686725    .7209829
        dummy2_147 |   .6179219   .0459724    13.44   0.000     .5277483    .7080954
        dummy2_148 |   .6030309   .0641239     9.40   0.000     .4772538    .7288081
        dummy2_149 |   .5164599   .1474488     3.50   0.000     .2272431    .8056767
        dummy2_150 |   .5893775   .0741502     7.95   0.000     .4439341     .734821
        dummy2_151 |   .5559026   .0977141     5.69   0.000     .3642391    .7475661
        dummy2_152 |   .5944613   .0616099     9.65   0.000     .4736152    .7153073
        dummy2_153 |   .5584236   .1249226     4.47   0.000     .3133914    .8034558
        dummy2_154 |   .5141107   .1556398     3.30   0.001     .2088276    .8193939
        dummy2_155 |    .357465   .0504211     7.09   0.000     .2585655    .4563645
        dummy2_156 |    .224274   .1035261     2.17   0.030     .0212104    .4273375
        dummy2_157 |    .351561   .0505072     6.96   0.000     .2524926    .4506294
        dummy2_158 |   .3556836   .0637309     5.58   0.000     .2306773    .4806899
        dummy2_159 |   .3566806   .0513775     6.94   0.000     .2559051     .457456
        dummy2_160 |   .3511969   .0502503     6.99   0.000     .2526323    .4497615
        dummy2_161 |   .3440057   .0580113     5.93   0.000     .2302183    .4577932
        dummy2_162 |   .3638703   .0518325     7.02   0.000     .2622023    .4655382
        dummy2_163 |   .3537077   .0519332     6.81   0.000     .2518421    .4555733
        dummy2_164 |   .3554669   .0503648     7.06   0.000     .2566777    .4542561
        dummy2_165 |   .3519232   .0508321     6.92   0.000     .2522175    .4516289
        dummy2_166 |   .3544938   .0515323     6.88   0.000     .2534146     .455573
        dummy2_167 |   .3698552   .0804588     4.60   0.000     .2120376    .5276728
        dummy2_168 |   .3604559   .0595997     6.05   0.000     .2435527    .4773591
        dummy2_169 |   .3510046   .0503779     6.97   0.000     .2521897    .4498196
        dummy2_170 |   .3512191   .0501109     7.01   0.000      .252928    .4495102
        dummy2_171 |   .3519022   .0500799     7.03   0.000     .2536719    .4501325
        dummy2_172 |   .3531989   .0500885     7.05   0.000     .2549516    .4514462
        dummy2_173 |    .352177   .0500839     7.03   0.000     .2539388    .4504153
        dummy2_174 |   .3503938   .0501639     6.98   0.000     .2519986     .448789
        dummy2_175 |   .3635568   .0504787     7.20   0.000     .2645441    .4625694
        dummy2_176 |   .3536088   .0500917     7.06   0.000     .2553552    .4518623
        dummy2_177 |   1.047266   .0786047    13.32   0.000     .8930852    1.201447
        dummy2_178 |   1.072394   .0959556    11.18   0.000     .8841802    1.260609
        dummy2_179 |   1.053325   .0785839    13.40   0.000     .8991853    1.207465
        dummy2_180 |   1.053332   .0787662    13.37   0.000     .8988341     1.20783
        dummy2_181 |   1.047225   .0785194    13.34   0.000     .8932111    1.201238
        dummy2_182 |   1.046865   .0784665    13.34   0.000     .8929548    1.200774
        dummy2_183 |   1.051996   .0788681    13.34   0.000      .897298    1.206693
        dummy2_184 |   1.060369   .0793489    13.36   0.000     .9047278    1.216009
        dummy2_185 |    1.04555   .0785889    13.30   0.000     .8913997      1.1997
        dummy2_186 |   1.050241   .0784899    13.38   0.000     .8962855    1.204197
        dummy2_187 |   1.046654   .0785137    13.33   0.000     .8926515    1.200656
        dummy2_188 |   1.045311   .0791873    13.20   0.000     .8899877    1.200635
        dummy2_189 |   1.046818   .0805506    13.00   0.000     .8888198    1.204815
        dummy2_190 |   1.052769   .0800976    13.14   0.000     .8956595    1.209878
        dummy2_191 |   1.048229   .0785237    13.35   0.000     .8942075    1.202251
        dummy2_192 |   1.044435   .0785261    13.30   0.000     .8904086    1.198462
        dummy2_193 |   1.047116   .0784775    13.34   0.000     .8931845    1.201047
        dummy2_194 |   1.043717   .0784621    13.30   0.000     .8898153    1.197618
        dummy2_197 |   1.050705   .0784868    13.39   0.000     .8967555    1.204655
        dummy2_198 |   1.044815   .0784479    13.32   0.000     .8909414    1.198688
        dummy2_199 |   .5296977   .0452081    11.72   0.000     .4410233     .618372
        dummy2_200 |   .5430575   .0611419     8.88   0.000     .4231293    .6629856
        dummy2_201 |   .5225327   .0453081    11.53   0.000      .433662    .6114034
        dummy2_202 |   .5283187   .0590656     8.94   0.000     .4124632    .6441742
        dummy2_203 |    .523727   .0450216    11.63   0.000     .4354184    .6120356
        dummy2_204 |   .5215837    .045011    11.59   0.000     .4332959    .6098715
        dummy2_205 |   .5402086   .0500925    10.78   0.000     .4419536    .6384636
        dummy2_206 |   .5227276    .045626    11.46   0.000     .4332334    .6122218
        dummy2_207 |   .5230166    .045935    11.39   0.000     .4329163    .6131169
        dummy2_208 |   .5223678    .045346    11.52   0.000     .4334228    .6113127
        dummy2_209 |   .5226157    .045308    11.53   0.000     .4337453    .6114862
        dummy2_210 |   .5243204   .0455017    11.52   0.000       .43507    .6135708
        dummy2_211 |   .5244975   .0542279     9.67   0.000     .4181309    .6308641
        dummy2_212 |   .5305873    .046885    11.32   0.000     .4386237    .6225509
        dummy2_213 |   .5322474   .0457333    11.64   0.000     .4425429     .621952
        dummy2_214 |   .5252888   .0449713    11.68   0.000     .4370788    .6134988
        dummy2_215 |   .5264999    .044988    11.70   0.000     .4382571    .6147427
        dummy2_216 |   .5291716   .0450083    11.76   0.000     .4408889    .6174542
        dummy2_217 |   .5220365   .0449714    11.61   0.000     .4338265    .6102466
        dummy2_218 |   .5269199   .0449771    11.72   0.000     .4386986    .6151413
        dummy2_219 |   .5247346   .0449517    11.67   0.000     .4365632    .6129061
        dummy2_220 |   .5211465   .0449819    11.59   0.000     .4329157    .6093773
        dummy2_221 |   .0920939   .0453034     2.03   0.042     .0032326    .1809553
        dummy2_222 |   .1033063   .0458577     2.25   0.024     .0133577    .1932549
        dummy2_223 |   .0865969   .0450128     1.92   0.055    -.0016944    .1748882
        dummy2_224 |   .0858777    .047207     1.82   0.069    -.0067174    .1784729
        dummy2_225 |   .0825281   .0453314     1.82   0.069    -.0063881    .1714442
        dummy2_226 |   .0841357   .0448915     1.87   0.061    -.0039177    .1721891
        dummy2_227 |   .1071618   .0465368     2.30   0.021     .0158812    .1984424
        dummy2_228 |   .1025109   .0463787     2.21   0.027     .0115404    .1934814
        dummy2_229 |   .0867344   .0450299     1.93   0.054    -.0015904    .1750593
        dummy2_230 |     .08559   .0449429     1.90   0.057    -.0025641    .1737442
        dummy2_231 |   .0867697   .0451015     1.92   0.055    -.0016956     .175235
        dummy2_232 |   .0872489   .0455015     1.92   0.055    -.0020011    .1764988
        dummy2_233 |   .0900003   .0481232     1.87   0.062    -.0043921    .1843927
        dummy2_234 |   .0838514   .0482143     1.74   0.082    -.0107196    .1784225
        dummy2_235 |   .0839061   .0453522     1.85   0.064     -.005051    .1728631
        dummy2_236 |   .0927717   .0450878     2.06   0.040     .0043332    .1812102
        dummy2_237 |   .0856492    .044853     1.91   0.056    -.0023288    .1736271
        dummy2_238 |   .0891491   .0448932     1.99   0.047     .0010923    .1772059
        dummy2_239 |   .0835337    .044825     1.86   0.063    -.0043894    .1714568
        dummy2_240 |   .0868228   .0448537     1.94   0.053    -.0011566    .1748021
        dummy2_241 |    .109177   .0466421     2.34   0.019     .0176898    .2006642
        dummy2_242 |    .086177   .0448338     1.92   0.055    -.0017633    .1741172
        dummy2_243 |   .0023314   .0438176     0.05   0.958    -.0836156    .0882784
        dummy2_244 |    .028369   .0460568     0.62   0.538    -.0619701    .1187082
        dummy2_245 |   .0047305   .0437619     0.11   0.914    -.0811072    .0905681
        dummy2_246 |   .0005428   .0450519     0.01   0.990    -.0878252    .0889108
        dummy2_247 |  -.0006523   .0437609    -0.01   0.988     -.086488    .0851835
        dummy2_248 |   .0011157   .0437008     0.03   0.980    -.0846023    .0868337
        dummy2_249 |  -.0137703    .058315    -0.24   0.813    -.1281535    .1006129
        dummy2_250 |   .0231697   .0452512     0.51   0.609    -.0655892    .1119286
        dummy2_251 |   .0005128   .0437252     0.01   0.991    -.0852529    .0862785
        dummy2_252 |  -.0008343    .043751    -0.02   0.985    -.0866507    .0849822
        dummy2_253 |   .0014024   .0437456     0.03   0.974    -.0844034    .0872082
        dummy2_254 |   .0002825   .0437967     0.01   0.995    -.0856235    .0861886
        dummy2_255 |   .0037245   .0443636     0.08   0.933    -.0832935    .0907426
        dummy2_256 |  -.0041713   .0453897    -0.09   0.927    -.0932019    .0848593
        dummy2_257 |   -.001783   .0441861    -0.04   0.968    -.0884528    .0848868
        dummy2_258 |   .0178402   .0447077     0.40   0.690    -.0698527    .1055332
        dummy2_259 |   -.000194   .0436964    -0.00   0.996    -.0859033    .0855152
        dummy2_260 |   .0093405   .0439439     0.21   0.832    -.0768542    .0955352
        dummy2_261 |   -.001789   .0436925    -0.04   0.967    -.0874907    .0839127
        dummy2_262 |   .0042799   .0437487     0.10   0.922     -.081532    .0900917
        dummy2_263 |   .0341711   .0470937     0.73   0.468    -.0582019    .1265441
                   |
            per108 |
               L1. |  -.0071738   .0030198    -2.38   0.018     -.013097   -.0012507
                   |
            per403 |
               L1. |  -.0577973   .0032756   -17.64   0.000    -.0642222   -.0513723
                   |
            per404 |
               L1. |  -.0353343   .0071398    -4.95   0.000    -.0493389   -.0213298
                   |
            per505 |
               L1. |   .2404489   .0074594    32.23   0.000     .2258175    .2550803
                   |
             _cons |   .7386834   .0319317    23.13   0.000     .6760502    .8013166
------------------------------------------------------------------------------------
Included instruments: tfpleadershipklems L.tecnogapklems ind_trend L.tradelib
                      y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10 dummy2_1 dummy2_2
                      dummy2_3 dummy2_4 dummy2_5 dummy2_6 dummy2_7 dummy2_8
                      dummy2_9 dummy2_10 dummy2_11 dummy2_12 dummy2_13 dummy2_14
                      dummy2_15 dummy2_16 dummy2_17 dummy2_18 dummy2_19
                      dummy2_20 dummy2_21 dummy2_22 dummy2_23 dummy2_24
                      dummy2_25 dummy2_26 dummy2_27 dummy2_28 dummy2_29
                      dummy2_30 dummy2_31 dummy2_32 dummy2_33 dummy2_34
                      dummy2_35 dummy2_36 dummy2_37 dummy2_38 dummy2_39
                      dummy2_40 dummy2_41 dummy2_42 dummy2_43 dummy2_44
                      dummy2_45 dummy2_47 dummy2_48 dummy2_50 dummy2_51
                      dummy2_52 dummy2_53 dummy2_54 dummy2_55 dummy2_56
                      dummy2_57 dummy2_58 dummy2_59 dummy2_60 dummy2_61
                      dummy2_62 dummy2_63 dummy2_64 dummy2_65 dummy2_66
                      dummy2_67 dummy2_68 dummy2_69 dummy2_70 dummy2_71
                      dummy2_72 dummy2_73 dummy2_74 dummy2_75 dummy2_76
                      dummy2_77 dummy2_78 dummy2_79 dummy2_80 dummy2_81
                      dummy2_82 dummy2_83 dummy2_84 dummy2_85 dummy2_86
                      dummy2_87 dummy2_88 dummy2_89 dummy2_90 dummy2_91
                      dummy2_92 dummy2_93 dummy2_94 dummy2_95 dummy2_96
                      dummy2_97 dummy2_98 dummy2_99 dummy2_100 dummy2_101
                      dummy2_102 dummy2_103 dummy2_104 dummy2_105 dummy2_106
                      dummy2_109 dummy2_111 dummy2_112 dummy2_113 dummy2_114
                      dummy2_115 dummy2_116 dummy2_117 dummy2_118 dummy2_119
                      dummy2_120 dummy2_121 dummy2_122 dummy2_123 dummy2_124
                      dummy2_125 dummy2_126 dummy2_127 dummy2_128 dummy2_129
                      dummy2_130 dummy2_131 dummy2_132 dummy2_133 dummy2_134
                      dummy2_135 dummy2_136 dummy2_137 dummy2_138 dummy2_140
                      dummy2_141 dummy2_142 dummy2_143 dummy2_144 dummy2_145
                      dummy2_146 dummy2_147 dummy2_148 dummy2_149 dummy2_150
                      dummy2_151 dummy2_152 dummy2_153 dummy2_154 dummy2_155
                      dummy2_156 dummy2_157 dummy2_158 dummy2_159 dummy2_160
                      dummy2_161 dummy2_162 dummy2_163 dummy2_164 dummy2_165
                      dummy2_166 dummy2_167 dummy2_168 dummy2_169 dummy2_170
                      dummy2_171 dummy2_172 dummy2_173 dummy2_174 dummy2_175
                      dummy2_176 dummy2_177 dummy2_178 dummy2_179 dummy2_180
                      dummy2_181 dummy2_182 dummy2_183 dummy2_184 dummy2_185
                      dummy2_186 dummy2_187 dummy2_188 dummy2_189 dummy2_190
                      dummy2_191 dummy2_192 dummy2_193 dummy2_194 dummy2_197
                      dummy2_198 dummy2_199 dummy2_200 dummy2_201 dummy2_202
                      dummy2_203 dummy2_204 dummy2_205 dummy2_206 dummy2_207
                      dummy2_208 dummy2_209 dummy2_210 dummy2_211 dummy2_212
                      dummy2_213 dummy2_214 dummy2_215 dummy2_216 dummy2_217
                      dummy2_218 dummy2_219 dummy2_220 dummy2_221 dummy2_222
                      dummy2_223 dummy2_224 dummy2_225 dummy2_226 dummy2_227
                      dummy2_228 dummy2_229 dummy2_230 dummy2_231 dummy2_232
                      dummy2_233 dummy2_234 dummy2_235 dummy2_236 dummy2_237
                      dummy2_238 dummy2_239 dummy2_240 dummy2_241 dummy2_242
                      dummy2_243 dummy2_244 dummy2_245 dummy2_246 dummy2_247
                      dummy2_248 dummy2_249 dummy2_250 dummy2_251 dummy2_252
                      dummy2_253 dummy2_254 dummy2_255 dummy2_256 dummy2_257
                      dummy2_258 dummy2_259 dummy2_260 dummy2_261 dummy2_262
                      dummy2_263 L.per108 L.per403 L.per404 L.per505
------------------------------------------------------------------------------
F test of excluded instruments:
  F(  4,  1574) =   268.56
  Prob > F      =   0.0000
Angrist-Pischke multivariate F test of excluded instruments:
  F(  3,  1574) =   356.33
  Prob > F      =   0.0000



Summary results for first-stage regressions
-------------------------------------------

                                           (Underid)            (Weak id)
Variable     | F(  4,  1574)  P-val | AP Chi-sq(  3) P-val | AP F(  3,  1574)
L.CPIequalw  |     116.87    0.0000 |      545.87   0.0000 |      155.06
L.pmr        |     268.56    0.0000 |     1254.41   0.0000 |      356.33

Stock-Yogo weak ID test critical values for single endogenous regressor:
                                    5% maximal IV relative bias    16.85
                                   10% maximal IV relative bias     9.08
                                   20% maximal IV relative bias     6.46
                                   30% maximal IV relative bias     5.39
                                   10% maximal IV size             22.30
                                   15% maximal IV size             12.83
                                   20% maximal IV size              9.54
                                   25% maximal IV size              7.80
Source: Stock-Yogo (2005).  Reproduced by permission.

Underidentification test
Ho: matrix of reduced form coefficients has rank=K1-1 (underidentified)
Ha: matrix has rank=K1 (identified)
Anderson canon. corr. LM statistic       Chi-sq(3)=411.75   P-val=0.0000

Weak identification test
Ho: equation is weakly identified
Cragg-Donald Wald F statistic                                     112.89

Stock-Yogo weak ID test critical values for K1=2 and L1=4:
                                    5% maximal IV relative bias    11.04
                                   10% maximal IV relative bias     7.56
                                   20% maximal IV relative bias     5.57
                                   30% maximal IV relative bias     4.73
                                   10% maximal IV size             16.87
                                   15% maximal IV size              9.93
                                   20% maximal IV size              7.54
                                   25% maximal IV size              6.28
Source: Stock-Yogo (2005).  Reproduced by permission.

Weak-instrument-robust inference
Tests of joint significance of endogenous regressors B1 in main equation
Ho: B1=0 and orthogonality conditions are valid
Anderson-Rubin Wald test           F(4,1574)=      2.26     P-val=0.0606
Anderson-Rubin Wald test           Chi-sq(4)=     10.61     P-val=0.0313
Stock-Wright LM S statistic        Chi-sq(4)=     10.55     P-val=0.0321

Number of observations               N  =       1847
Number of regressors                 K  =        271
Number of endogenous regressors      K1 =          2
Number of instruments                L  =        273
Number of excluded instruments       L1 =          4

IV (2SLS) estimation
--------------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1847
                                                      F(270,  1576) =     2.13
                                                      Prob > F      =   0.0000
Total (centered) SS     =  8.679659315                Centered R2   =   0.2683
Total (uncentered) SS   =  8.846870444                Uncentered R2 =   0.2821
Residual SS             =  6.351262448                Root MSE      =   .05864

------------------------------------------------------------------------------------
tfpcorrectedover~s |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
         CPIequalw |
               L1. |    .128007   .0706464     1.81   0.070    -.0104573    .2664713
                   |
               pmr |
               L1. |  -.0333851   .0183619    -1.82   0.069    -.0693738    .0026037
                   |
tfpleadershipklems |   .0647066    .018508     3.50   0.000     .0284316    .1009815
                   |
     tecnogapklems |
               L1. |   .0073411    .003993     1.84   0.066     -.000485    .0151672
                   |
         ind_trend |    .048111    .023727     2.03   0.043     .0016069    .0946151
                   |
          tradelib |
               L1. |   .0144908   .0035947     4.03   0.000     .0074454    .0215362
                   |
               y_2 |    .015815   .0134147     1.18   0.238    -.0104773    .0421073
               y_3 |   .0193866   .0130209     1.49   0.137    -.0061338     .044907
               y_4 |  -.0040075   .0131711    -0.30   0.761    -.0298223    .0218073
               y_5 |   .0235424   .0127308     1.85   0.064    -.0014095    .0484942
               y_6 |   .0255589   .0094727     2.70   0.007     .0069928    .0441249
               y_7 |   -.004181   .0087607    -0.48   0.633    -.0213516    .0129896
               y_8 |  -.0005569   .0084473    -0.07   0.947    -.0171133    .0159996
               y_9 |   .0014978   .0083556     0.18   0.858    -.0148789    .0178744
              y_10 |   .0096911   .0064245     1.51   0.131    -.0029007    .0222829
          dummy2_1 |   .0102227   .0389397     0.26   0.793    -.0660976    .0865431
          dummy2_2 |  -.0474493   .0392541    -1.21   0.227     -.124386    .0294874
          dummy2_3 |   .0234713   .0388028     0.60   0.545    -.0525809    .0995234
          dummy2_4 |  -.0045762   .0393576    -0.12   0.907    -.0817158    .0725633
          dummy2_5 |   .0174339   .0387689     0.45   0.653    -.0585517    .0934195
          dummy2_6 |   .0730909   .0388872     1.88   0.060    -.0031265    .1493084
          dummy2_7 |  -.0017531   .0397788    -0.04   0.965     -.079718    .0762119
          dummy2_8 |   .0179596   .0397903     0.45   0.652     -.060028    .0959471
          dummy2_9 |   -.005471   .0390229    -0.14   0.889    -.0819545    .0710124
         dummy2_10 |   .0161204   .0389404     0.41   0.679    -.0602015    .0924422
         dummy2_11 |   .0320695   .0389572     0.82   0.410    -.0442852    .1084243
         dummy2_12 |  -.0029202   .0402581    -0.07   0.942    -.0818245    .0759842
         dummy2_13 |  -.0170967   .0505598    -0.34   0.735     -.116192    .0819987
         dummy2_14 |  -.0132977   .0465159    -0.29   0.775    -.1044671    .0778717
         dummy2_15 |   .0201904   .0389653     0.52   0.604    -.0561801    .0965609
         dummy2_16 |   .0030716   .0388772     0.08   0.937    -.0731263    .0792694
         dummy2_17 |   .0272857   .0388419     0.70   0.482    -.0488432    .1034145
         dummy2_18 |   .0243093   .0390508     0.62   0.534    -.0522289    .1008475
         dummy2_19 |   .0416666   .0388099     1.07   0.283    -.0343995    .1177327
         dummy2_20 |   .0135124   .0388836     0.35   0.728    -.0626981    .0897229
         dummy2_21 |  -.0156811   .0396263    -0.40   0.692    -.0933471     .061985
         dummy2_22 |   .0138111    .038977     0.35   0.723    -.0625825    .0902046
         dummy2_23 |   .1149977   .0366834     3.13   0.002     .0430996    .1868959
         dummy2_24 |   .0362427   .0381815     0.95   0.343    -.0385917    .1110772
         dummy2_25 |   .0380053   .0366387     1.04   0.300    -.0338053    .1098159
         dummy2_26 |   .0736082   .0375387     1.96   0.050     .0000338    .1471827
         dummy2_27 |   .0985127    .036755     2.68   0.007     .0264742    .1705512
         dummy2_28 |   .0493777   .0370602     1.33   0.183    -.0232591    .1220144
         dummy2_29 |   .0662444   .0428421     1.55   0.122    -.0177246    .1502134
         dummy2_30 |   .0166445   .0384182     0.43   0.665    -.0586538    .0919428
         dummy2_31 |   .0746916   .0375115     1.99   0.046     .0011704    .1482128
         dummy2_32 |   .1063865   .0367745     2.89   0.004     .0343097    .1784632
         dummy2_33 |   .0414051   .0369866     1.12   0.263    -.0310873    .1138975
         dummy2_34 |   .0918202   .0371202     2.47   0.013     .0190659    .1645745
         dummy2_35 |    .039033    .039243     0.99   0.320    -.0378819    .1159479
         dummy2_36 |    .015543   .0396857     0.39   0.695    -.0622395    .0933255
         dummy2_37 |   .0532176   .0369496     1.44   0.150    -.0192023    .1256374
         dummy2_38 |   .0674962   .0375289     1.80   0.072    -.0060591    .1410515
         dummy2_39 |    .044924      .0367     1.22   0.221    -.0270067    .1168547
         dummy2_40 |  -.0015697   .0366858    -0.04   0.966    -.0734727    .0703332
         dummy2_41 |   .0387776   .0364402     1.06   0.287    -.0326439    .1101992
         dummy2_42 |    .023351   .0368131     0.63   0.526    -.0488014    .0955034
         dummy2_43 |   .0464806   .0375125     1.24   0.215    -.0270425    .1200036
         dummy2_44 |   .0620144    .036614     1.69   0.090    -.0097477    .1337765
         dummy2_45 |    .109776   .0525246     2.09   0.037     .0068296    .2127223
         dummy2_47 |   .0588545   .0524933     1.12   0.262    -.0440305    .1617395
         dummy2_48 |   .0952636   .0470553     2.02   0.043     .0030368    .1874904
         dummy2_50 |   .0847821   .0464231     1.83   0.068    -.0062054    .1757696
         dummy2_51 |  -.1846889   .0671166    -2.75   0.006    -.3162351   -.0531428
         dummy2_52 |   .0554531   .0528751     1.05   0.294    -.0481802    .1590864
         dummy2_53 |   .1230091   .0524154     2.35   0.019     .0202769    .2257413
         dummy2_54 |   .0763439   .0524214     1.46   0.145    -.0264003     .179088
         dummy2_55 |   .0824417   .0524065     1.57   0.116    -.0202732    .1851566
         dummy2_56 |   .1166862   .0525814     2.22   0.026     .0136285    .2197438
         dummy2_57 |   .0911962   .0468558     1.95   0.052    -.0006395     .183032
         dummy2_58 |   .0385367   .0469008     0.82   0.411    -.0533871    .1304605
         dummy2_59 |   .0992986    .052507     1.89   0.059    -.0036132    .2022105
         dummy2_60 |   .1845538   .0525745     3.51   0.000     .0815096     .287598
         dummy2_61 |   .0820538   .0523988     1.57   0.117     -.020646    .1847537
         dummy2_62 |    .090882   .0524056     1.73   0.083    -.0118312    .1935951
         dummy2_63 |   .0730622   .0523825     1.39   0.163    -.0296057      .17573
         dummy2_64 |   .2016517   .0524659     3.84   0.000     .0988204    .3044829
         dummy2_65 |   .0546306   .0526178     1.04   0.299    -.0484984    .1577596
         dummy2_66 |   .0807481   .0463816     1.74   0.082    -.0101581    .1716543
         dummy2_67 |   .0709556    .029103     2.44   0.015     .0139148    .1279965
         dummy2_68 |  -.0510195   .0348246    -1.47   0.143    -.1192745    .0172355
         dummy2_69 |   .0361143   .0291253     1.24   0.215    -.0209703    .0931989
         dummy2_70 |   .0210394   .0312585     0.67   0.501    -.0402261     .082305
         dummy2_71 |   .0652794   .0288999     2.26   0.024     .0086366    .1219222
         dummy2_72 |   .0406782   .0289023     1.41   0.159    -.0159692    .0973257
         dummy2_73 |  -.0271801   .0384782    -0.71   0.480    -.1025961    .0482358
         dummy2_74 |   .0645679    .029619     2.18   0.029     .0065157    .1226202
         dummy2_75 |   .0549385    .028906     1.90   0.057    -.0017162    .1115933
         dummy2_76 |   .0573705   .0289129     1.98   0.047     .0007022    .1140388
         dummy2_77 |    .046501   .0289058     1.61   0.108    -.0101533    .1031553
         dummy2_78 |   .0480291   .0288919     1.66   0.096     -.008598    .1046562
         dummy2_79 |    .064336   .0293425     2.19   0.028     .0068258    .1218462
         dummy2_80 |    .058425   .0297826     1.96   0.050     .0000522    .1167979
         dummy2_81 |   .0297558   .0290443     1.02   0.306      -.02717    .0866816
         dummy2_82 |   .0776624   .0293083     2.65   0.008     .0202192    .1351055
         dummy2_83 |   .0467462   .0288677     1.62   0.105    -.0098333    .1033258
         dummy2_84 |   .0445447   .0290054     1.54   0.125    -.0123048    .1013942
         dummy2_85 |   .0652126   .0288589     2.26   0.024     .0086502     .121775
         dummy2_86 |   .1025191   .0288594     3.55   0.000     .0459557    .1590825
         dummy2_87 |   .0200583   .0299931     0.67   0.504     -.038727    .0788436
         dummy2_88 |  -.0208437   .0288426    -0.72   0.470    -.0773741    .0356868
         dummy2_89 |   .1132713    .034122     3.32   0.001     .0463935    .1801492
         dummy2_90 |   -.025516   .0547623    -0.47   0.641     -.132848    .0818161
         dummy2_91 |  -.0030514   .0499851    -0.06   0.951    -.1010204    .0949176
         dummy2_92 |   .0837355   .0510851     1.64   0.101    -.0163895    .1838604
         dummy2_93 |   .0748412   .0501271     1.49   0.135    -.0234062    .1730885
         dummy2_94 |    .078683   .0502425     1.57   0.117    -.0197905    .1771565
         dummy2_95 |   .2621729   .0651787     4.02   0.000     .1344251    .3899208
         dummy2_96 |   .0313056   .0510846     0.61   0.540    -.0688185    .1314296
         dummy2_97 |    .105048    .051055     2.06   0.040      .004982    .2051139
         dummy2_98 |  -.0017856   .0499704    -0.04   0.971    -.0997259    .0961546
         dummy2_99 |  -.0599085   .0508055    -1.18   0.238    -.1594855    .0396685
        dummy2_100 |   .1164663   .0528667     2.20   0.028     .0128494    .2200832
        dummy2_101 |   .0016368   .0531219     0.03   0.975    -.1024803    .1057539
        dummy2_102 |  -.1713507   .0511549    -3.35   0.001    -.2716124   -.0710889
        dummy2_103 |   .1438251   .0505959     2.84   0.004     .0446589    .2429912
        dummy2_104 |   .0472351   .0382134     1.24   0.216    -.0276618     .122132
        dummy2_105 |   .0741437    .034083     2.18   0.030     .0073423    .1409452
        dummy2_106 |   .0327424   .0341437     0.96   0.338    -.0341781    .0996629
        dummy2_109 |   .1021369   .0352092     2.90   0.004     .0331281    .1711456
        dummy2_111 |   .0750995   .0363751     2.06   0.039     .0038056    .1463934
        dummy2_112 |   .0180732   .0376696     0.48   0.631    -.0557579    .0919042
        dummy2_113 |   .0426094   .0364117     1.17   0.242    -.0287562     .113975
        dummy2_114 |   .0414651   .0362981     1.14   0.253    -.0296779    .1126081
        dummy2_115 |   .0791778   .0362205     2.19   0.029     .0081869    .1501687
        dummy2_116 |   .0520767   .0361987     1.44   0.150    -.0188715    .1230248
        dummy2_117 |  -.0077607   .0395297    -0.20   0.844    -.0852374     .069716
        dummy2_118 |    .047245   .0373228     1.27   0.206    -.0259064    .1203964
        dummy2_119 |   .0604711   .0362104     1.67   0.095    -.0105001    .1314422
        dummy2_120 |   .0673017   .0362695     1.86   0.064    -.0037853    .1383887
        dummy2_121 |   .0580956   .0362898     1.60   0.109    -.0130311    .1292222
        dummy2_122 |   .0484394   .0362668     1.34   0.182    -.0226423     .119521
        dummy2_123 |    .030697   .0366169     0.84   0.402    -.0410708    .1024648
        dummy2_124 |    .021286   .0377264     0.56   0.573    -.0526564    .0952285
        dummy2_125 |   .0648923   .0362208     1.79   0.073    -.0060991    .1358837
        dummy2_126 |   .0708437   .0364871     1.94   0.052    -.0006698    .1423572
        dummy2_127 |   .0529538   .0361626     1.46   0.143    -.0179235    .1238312
        dummy2_128 |   .0511213   .0363193     1.41   0.159    -.0200633    .1223058
        dummy2_129 |   .0670329   .0360405     1.86   0.063    -.0036053    .1376711
        dummy2_130 |   .1362375   .0360484     3.78   0.000      .065584    .2068911
        dummy2_131 |   .0793773   .0368538     2.15   0.031     .0071451    .1516095
        dummy2_132 |   .0740072   .0361269     2.05   0.041     .0031998    .1448147
        dummy2_133 |    .009686   .0348165     0.28   0.781    -.0585531    .0779251
        dummy2_134 |  -.0916657   .0535913    -1.71   0.087    -.1967027    .0133713
        dummy2_135 |  -.0563568   .0453465    -1.24   0.214    -.1452343    .0325206
        dummy2_136 |  -.0124372   .0316674    -0.39   0.695    -.0745042    .0496297
        dummy2_137 |   .0196977   .0306563     0.64   0.521    -.0403874    .0797829
        dummy2_138 |  -.0017321   .0354936    -0.05   0.961    -.0712982    .0678341
        dummy2_140 |  -.0166062   .0367063    -0.45   0.651    -.0885492    .0553368
        dummy2_141 |   .0451275   .0316752     1.42   0.154    -.0169548    .1072098
        dummy2_142 |    .033188   .0311987     1.06   0.287    -.0279604    .0943363
        dummy2_143 |  -.0083498   .0413767    -0.20   0.840    -.0894467    .0727471
        dummy2_144 |  -.0014079   .0380989    -0.04   0.971    -.0760804    .0732647
        dummy2_145 |  -.0163155   .0550575    -0.30   0.767    -.1242262    .0915952
        dummy2_146 |   .0064636   .0400692     0.16   0.872    -.0720705    .0849978
        dummy2_147 |   .0366513   .0309513     1.18   0.236    -.0240122    .0973147
        dummy2_148 |   .0077289   .0399393     0.19   0.847    -.0705507    .0860085
        dummy2_149 |   -.124452    .087952    -1.41   0.157    -.2968347    .0479307
        dummy2_150 |  -.0228141   .0453861    -0.50   0.615    -.1117693    .0661411
        dummy2_151 |  -.0479133   .0587482    -0.82   0.415    -.1630577    .0672312
        dummy2_152 |   .0148787   .0385313     0.39   0.699    -.0606413    .0903987
        dummy2_153 |  -.1207343   .0746854    -1.62   0.106    -.2671149    .0256464
        dummy2_154 |  -.1186179   .0928164    -1.28   0.201    -.3005347    .0632989
        dummy2_155 |   .0058696   .0304384     0.19   0.847    -.0537886    .0655278
        dummy2_156 |   .0470253    .062463     0.75   0.452       -.0754    .1694505
        dummy2_157 |   .0323566    .030457     1.06   0.288     -.027338    .0920512
        dummy2_158 |  -.0463201   .0384053    -1.21   0.228    -.1215932     .028953
        dummy2_159 |  -.0117369   .0310117    -0.38   0.705    -.0725187    .0490449
        dummy2_160 |   .0321527   .0302979     1.06   0.289    -.0272301    .0915355
        dummy2_161 |   .1332371   .0350379     3.80   0.000      .064564    .2019102
        dummy2_162 |   .0410704   .0313328     1.31   0.190    -.0203407    .1024816
        dummy2_163 |   .0036673   .0313267     0.12   0.907    -.0577319    .0650665
        dummy2_164 |   .0311129   .0303938     1.02   0.306    -.0284579    .0906838
        dummy2_165 |   .0248074   .0306516     0.81   0.418    -.0352687    .0848834
        dummy2_166 |   .0270855   .0310897     0.87   0.384    -.0338491    .0880202
        dummy2_167 |  -.1151624   .0484847    -2.38   0.018    -.2101907   -.0201342
        dummy2_168 |  -.0116931    .035929    -0.33   0.745    -.0821127    .0587265
        dummy2_169 |   .0252311   .0303707     0.83   0.406    -.0342943    .0847565
        dummy2_170 |   .0683356     .03021     2.26   0.024      .009125    .1275461
        dummy2_171 |   .0202906   .0302002     0.67   0.502    -.0389007    .0794818
        dummy2_172 |    .018136   .0302168     0.60   0.548    -.0410879    .0773599
        dummy2_173 |   .0353907   .0302039     1.17   0.241    -.0238078    .0945891
        dummy2_174 |   .1077206   .0302331     3.56   0.000     .0484648    .1669764
        dummy2_175 |   .0346747   .0305205     1.14   0.256    -.0251444    .0944939
        dummy2_176 |    .019596   .0302204     0.65   0.517    -.0396348    .0788268
        dummy2_177 |   .0581002   .0499722     1.16   0.245    -.0398436     .156044
        dummy2_178 |   -.066299   .0598145    -1.11   0.268    -.1835332    .0509352
        dummy2_179 |   .0814322   .0499758     1.63   0.103    -.0165187     .179383
        dummy2_180 |   .0611726   .0500662     1.22   0.222    -.0369554    .1593006
        dummy2_181 |   .0280857   .0498929     0.56   0.573    -.0697026    .1258741
        dummy2_182 |   .0788018   .0498653     1.58   0.114    -.0189324     .176536
        dummy2_183 |   .0269732   .0500921     0.54   0.590    -.0712055    .1251519
        dummy2_184 |   .0349663   .0504397     0.69   0.488    -.0638937    .1338263
        dummy2_185 |   .0652206    .049907     1.31   0.191    -.0325953    .1630366
        dummy2_186 |   .0655445   .0499195     1.31   0.189    -.0322959    .1633849
        dummy2_187 |   .0728223   .0498844     1.46   0.144    -.0249494    .1705939
        dummy2_188 |   .0390797   .0502081     0.78   0.436    -.0593264    .1374858
        dummy2_189 |   .0367173   .0509631     0.72   0.471    -.0631685     .136603
        dummy2_190 |   .0081845   .0507623     0.16   0.872    -.0913078    .1076768
        dummy2_191 |   .0467503   .0499117     0.94   0.349    -.0510749    .1445754
        dummy2_192 |    .093199   .0499064     1.87   0.062    -.0046158    .1910139
        dummy2_193 |   .0482311   .0498964     0.97   0.334    -.0495642    .1460263
        dummy2_194 |   .0366869   .0498466     0.74   0.462    -.0610108    .1343845
        dummy2_197 |   .1150006   .0499251     2.30   0.021     .0171491     .212852
        dummy2_198 |   .0541123   .0498514     1.09   0.278    -.0435945    .1518192
        dummy2_199 |   .0262769   .0282669     0.93   0.353    -.0291253     .081679
        dummy2_200 |  -.0838135   .0379487    -2.21   0.027    -.1581916   -.0094354
        dummy2_201 |  -.0095292    .028341    -0.34   0.737    -.0650765    .0460182
        dummy2_202 |  -.0730489   .0365964    -2.00   0.046    -.1447765   -.0013213
        dummy2_203 |   .0469655   .0281363     1.67   0.095    -.0081806    .1021117
        dummy2_204 |   .0148197   .0281213     0.53   0.598    -.0402971    .0699365
        dummy2_205 |  -.0321633   .0314151    -1.02   0.306    -.0937358    .0294093
        dummy2_206 |  -.0115742   .0285501    -0.41   0.685    -.0675314    .0443831
        dummy2_207 |   .0004637   .0287316     0.02   0.987    -.0558493    .0567766
        dummy2_208 |   .0204195   .0283367     0.72   0.471    -.0351194    .0759583
        dummy2_209 |  -.0141533   .0283395    -0.50   0.617    -.0696977    .0413912
        dummy2_210 |   .0129731   .0284722     0.46   0.649    -.0428314    .0687775
        dummy2_211 |   .0962418   .0338756     2.84   0.004     .0298468    .1626368
        dummy2_212 |   .0202789    .029287     0.69   0.489    -.0371224    .0776803
        dummy2_213 |   .0486672   .0286459     1.70   0.089    -.0074778    .1048122
        dummy2_214 |     -.0001   .0281072    -0.00   0.997    -.0551891     .054989
        dummy2_215 |   .0078064    .028125     0.28   0.781    -.0473176    .0629303
        dummy2_216 |   .0250903   .0281681     0.89   0.373    -.0301181    .0802988
        dummy2_217 |   .0100831   .0280981     0.36   0.720    -.0449882    .0651544
        dummy2_218 |     .04776   .0281249     1.70   0.089    -.0073639    .1028838
        dummy2_219 |  -.0006159   .0281157    -0.02   0.983    -.0557218    .0544899
        dummy2_220 |   .0003919   .0281168     0.01   0.989     -.054716    .0554999
        dummy2_221 |   .0286536    .028331     1.01   0.312    -.0268741    .0841813
        dummy2_222 |  -.0077507   .0286371    -0.27   0.787    -.0638785     .048377
        dummy2_223 |   .0109415    .028138     0.39   0.697     -.044208    .0660909
        dummy2_224 |    .011844   .0293421     0.40   0.686    -.0456655    .0693535
        dummy2_225 |   .0030497   .0283119     0.11   0.914    -.0524407      .05854
        dummy2_226 |   .0196206    .028088     0.70   0.485    -.0354309    .0746722
        dummy2_227 |  -.0076779   .0289631    -0.27   0.791    -.0644445    .0490887
        dummy2_228 |   .0109677   .0288887     0.38   0.704    -.0456532    .0675885
        dummy2_229 |   .0138907   .0281519     0.49   0.622     -.041286    .0690674
        dummy2_230 |   .0432347   .0281257     1.54   0.124    -.0118906      .09836
        dummy2_231 |    .034681   .0281855     1.23   0.219    -.0205616    .0899236
        dummy2_232 |   .0254386    .028397     0.90   0.370    -.0302185    .0810956
        dummy2_233 |   .0026917   .0298763     0.09   0.928    -.0558648    .0612482
        dummy2_234 |   .0048573   .0297946     0.16   0.870    -.0535391    .0632537
        dummy2_235 |   .0055829     .02833     0.20   0.844    -.0499429    .0611087
        dummy2_236 |   .0309153   .0282225     1.10   0.273    -.0243998    .0862304
        dummy2_237 |   .0304206   .0280899     1.08   0.279    -.0246346    .0854758
        dummy2_238 |   .0219332   .0280981     0.78   0.435    -.0331381    .0770045
        dummy2_239 |   .0457644   .0280668     1.63   0.103    -.0092455    .1007744
        dummy2_240 |   .0768888   .0280835     2.74   0.006     .0218461    .1319315
        dummy2_241 |   .0278267    .029111     0.96   0.339    -.0292297    .0848832
        dummy2_242 |   .0225568    .028071     0.80   0.422    -.0324613    .0775749
        dummy2_243 |   .0333539   .0263062     1.27   0.205    -.0182053    .0849131
        dummy2_244 |  -.0390164   .0276557    -1.41   0.158    -.0932207    .0151878
        dummy2_245 |    .025067   .0262727     0.95   0.340    -.0264266    .0765606
        dummy2_246 |   .0390875   .0270476     1.45   0.148    -.0139249    .0920999
        dummy2_247 |   .0147933    .026272     0.56   0.573    -.0366989    .0662855
        dummy2_248 |   .0395778    .026236     1.51   0.131    -.0118437    .0909993
        dummy2_249 |   .0855317    .034997     2.44   0.015      .016939    .1541245
        dummy2_250 |     .00817   .0271705     0.30   0.764    -.0450833    .0614233
        dummy2_251 |    .040664   .0262505     1.55   0.121    -.0107861    .0921141
        dummy2_252 |   .0313757   .0262661     1.19   0.232    -.0201049    .0828564
        dummy2_253 |   .0393155   .0262628     1.50   0.134    -.0121587    .0907897
        dummy2_254 |   .0363951   .0262935     1.38   0.166    -.0151393    .0879295
        dummy2_255 |   .1274136   .0266338     4.78   0.000     .0752124    .1796148
        dummy2_256 |   .0539703   .0272495     1.98   0.048     .0005623    .1073784
        dummy2_257 |   .0395306   .0265275     1.49   0.136    -.0124624    .0915235
        dummy2_258 |   .0145511    .026843     0.54   0.588    -.0380603    .0671624
        dummy2_259 |  -.0088208   .0262333    -0.34   0.737    -.0602371    .0425955
        dummy2_260 |   .0129559   .0263826     0.49   0.623     -.038753    .0646647
        dummy2_261 |   .0255038    .026231     0.97   0.331     -.025908    .0769156
        dummy2_262 |   .0287475   .0262648     1.09   0.274    -.0227306    .0802256
        dummy2_263 |   .0031419   .0282817     0.11   0.912    -.0522893    .0585731
             _cons |   -.052061   .0465977    -1.12   0.264    -.1433908    .0392688
------------------------------------------------------------------------------------
Underidentification test (Anderson canon. corr. LM statistic):         411.746
                                                   Chi-sq(3) P-val =    0.0000
------------------------------------------------------------------------------
Weak identification test (Cragg-Donald Wald F statistic):              112.887
Stock-Yogo weak ID test critical values:  5% maximal IV relative bias    11.04
                                         10% maximal IV relative bias     7.56
                                         20% maximal IV relative bias     5.57
                                         30% maximal IV relative bias     4.73
                                         10% maximal IV size             16.87
                                         15% maximal IV size              9.93
                                         20% maximal IV size              7.54
                                         25% maximal IV size              6.28
Source: Stock-Yogo (2005).  Reproduced by permission.
------------------------------------------------------------------------------
Sargan statistic (overidentification test of all instruments):           3.525
                                                   Chi-sq(2) P-val =    0.1716
------------------------------------------------------------------------------
Instrumented:         L.CPIequalw L.pmr
Included instruments: tfpleadershipklems L.tecnogapklems ind_trend L.tradelib
                      y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10 dummy2_1 dummy2_2
                      dummy2_3 dummy2_4 dummy2_5 dummy2_6 dummy2_7 dummy2_8
                      dummy2_9 dummy2_10 dummy2_11 dummy2_12 dummy2_13 dummy2_14
                      dummy2_15 dummy2_16 dummy2_17 dummy2_18 dummy2_19
                      dummy2_20 dummy2_21 dummy2_22 dummy2_23 dummy2_24
                      dummy2_25 dummy2_26 dummy2_27 dummy2_28 dummy2_29
                      dummy2_30 dummy2_31 dummy2_32 dummy2_33 dummy2_34
                      dummy2_35 dummy2_36 dummy2_37 dummy2_38 dummy2_39
                      dummy2_40 dummy2_41 dummy2_42 dummy2_43 dummy2_44
                      dummy2_45 dummy2_47 dummy2_48 dummy2_50 dummy2_51
                      dummy2_52 dummy2_53 dummy2_54 dummy2_55 dummy2_56
                      dummy2_57 dummy2_58 dummy2_59 dummy2_60 dummy2_61
                      dummy2_62 dummy2_63 dummy2_64 dummy2_65 dummy2_66
                      dummy2_67 dummy2_68 dummy2_69 dummy2_70 dummy2_71
                      dummy2_72 dummy2_73 dummy2_74 dummy2_75 dummy2_76
                      dummy2_77 dummy2_78 dummy2_79 dummy2_80 dummy2_81
                      dummy2_82 dummy2_83 dummy2_84 dummy2_85 dummy2_86
                      dummy2_87 dummy2_88 dummy2_89 dummy2_90 dummy2_91
                      dummy2_92 dummy2_93 dummy2_94 dummy2_95 dummy2_96
                      dummy2_97 dummy2_98 dummy2_99 dummy2_100 dummy2_101
                      dummy2_102 dummy2_103 dummy2_104 dummy2_105 dummy2_106
                      dummy2_109 dummy2_111 dummy2_112 dummy2_113 dummy2_114
                      dummy2_115 dummy2_116 dummy2_117 dummy2_118 dummy2_119
                      dummy2_120 dummy2_121 dummy2_122 dummy2_123 dummy2_124
                      dummy2_125 dummy2_126 dummy2_127 dummy2_128 dummy2_129
                      dummy2_130 dummy2_131 dummy2_132 dummy2_133 dummy2_134
                      dummy2_135 dummy2_136 dummy2_137 dummy2_138 dummy2_140
                      dummy2_141 dummy2_142 dummy2_143 dummy2_144 dummy2_145
                      dummy2_146 dummy2_147 dummy2_148 dummy2_149 dummy2_150
                      dummy2_151 dummy2_152 dummy2_153 dummy2_154 dummy2_155
                      dummy2_156 dummy2_157 dummy2_158 dummy2_159 dummy2_160
                      dummy2_161 dummy2_162 dummy2_163 dummy2_164 dummy2_165
                      dummy2_166 dummy2_167 dummy2_168 dummy2_169 dummy2_170
                      dummy2_171 dummy2_172 dummy2_173 dummy2_174 dummy2_175
                      dummy2_176 dummy2_177 dummy2_178 dummy2_179 dummy2_180
                      dummy2_181 dummy2_182 dummy2_183 dummy2_184 dummy2_185
                      dummy2_186 dummy2_187 dummy2_188 dummy2_189 dummy2_190
                      dummy2_191 dummy2_192 dummy2_193 dummy2_194 dummy2_197
                      dummy2_198 dummy2_199 dummy2_200 dummy2_201 dummy2_202
                      dummy2_203 dummy2_204 dummy2_205 dummy2_206 dummy2_207
                      dummy2_208 dummy2_209 dummy2_210 dummy2_211 dummy2_212
                      dummy2_213 dummy2_214 dummy2_215 dummy2_216 dummy2_217
                      dummy2_218 dummy2_219 dummy2_220 dummy2_221 dummy2_222
                      dummy2_223 dummy2_224 dummy2_225 dummy2_226 dummy2_227
                      dummy2_228 dummy2_229 dummy2_230 dummy2_231 dummy2_232
                      dummy2_233 dummy2_234 dummy2_235 dummy2_236 dummy2_237
                      dummy2_238 dummy2_239 dummy2_240 dummy2_241 dummy2_242
                      dummy2_243 dummy2_244 dummy2_245 dummy2_246 dummy2_247
                      dummy2_248 dummy2_249 dummy2_250 dummy2_251 dummy2_252
                      dummy2_253 dummy2_254 dummy2_255 dummy2_256 dummy2_257
                      dummy2_258 dummy2_259 dummy2_260 dummy2_261 dummy2_262
                      dummy2_263
Excluded instruments: L.per108 L.per403 L.per404 L.per505
Dropped collinear:    y_1 y_11 dummy2_46 dummy2_49 dummy2_107 dummy2_108
                      dummy2_110 dummy2_139 dummy2_195 dummy2_196 dummy2_264
------------------------------------------------------------------------------

. *ivendog
. eststo table4_4

. ivreg2 LPgrowth labourproductivityleaderklems l.tecnogapklemsLP ind_trend l.tradelib l.pmr  y_*  dummy*  ( l.compindex = l
> .per108 l.per403 l.per404 l.per505)  if LPgrowth>-0.282 & LPgrowth<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, first
Warning - collinearities detected
Vars dropped:       y_1 y_11 dummy2_46 dummy2_49 dummy2_107 dummy2_108
                    dummy2_110 dummy2_139 dummy2_156 dummy2_195 dummy2_196
                    dummy2_264

First-stage regressions
-----------------------

First-stage regression of L.compindex:

OLS estimation
--------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1863
                                                      F(272,  1590) =    40.80
                                                      Prob > F      =   0.0000
Total (centered) SS     =  20.63051598                Centered R2   =   0.8747
Total (uncentered) SS   =  463.3850845                Uncentered R2 =   0.9944
Residual SS             =  2.585280328                Root MSE      =   .04032

-----------------------------------------------------------------------------------------------
                  L.compindex |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
------------------------------+----------------------------------------------------------------
labourproductivityleaderklems |  -.2001848    .134953    -1.48   0.138    -.4648893    .0645197
                              |
              tecnogapklemsLP |
                          L1. |   .0003053   .0008323     0.37   0.714    -.0013271    .0019378
                              |
                    ind_trend |  -.0165854   .0161761    -1.03   0.305    -.0483142    .0151434
                              |
                     tradelib |
                          L1. |  -.0024232   .0024739    -0.98   0.327    -.0072756    .0024292
                              |
                          pmr |
                          L1. |   .0755225    .010422     7.25   0.000     .0550801    .0959649
                              |
                          y_2 |  -.1218354   .0072947   -16.70   0.000    -.1361435   -.1075272
                          y_3 |   -.103333   .0076309   -13.54   0.000    -.1183007   -.0883653
                          y_4 |  -.1082746   .0077065   -14.05   0.000    -.1233905   -.0931587
                          y_5 |   -.119832   .0074327   -16.12   0.000     -.134411   -.1052531
                          y_6 |  -.1084676   .0055729   -19.46   0.000    -.1193986   -.0975366
                          y_7 |  -.0802363   .0054556   -14.71   0.000    -.0909371   -.0695354
                          y_8 |  -.0616912   .0052795   -11.68   0.000    -.0720467   -.0513356
                          y_9 |  -.0402579   .0052153    -7.72   0.000    -.0504875   -.0300283
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                   dummy2_228 |  -.1689859   .0189802    -8.90   0.000    -.2062148   -.1317569
                   dummy2_229 |  -.1737281   .0186168    -9.33   0.000    -.2102442    -.137212
                   dummy2_230 |  -.1741299   .0185564    -9.38   0.000    -.2105275   -.1377323
                   dummy2_231 |  -.1734721   .0186527    -9.30   0.000    -.2100586   -.1368855
                   dummy2_232 |  -.1720408   .0188187    -9.14   0.000    -.2089529   -.1351286
                   dummy2_233 |  -.1674978   .0198683    -8.43   0.000    -.2064687    -.128527
                   dummy2_234 |  -.1690066   .0194768    -8.68   0.000    -.2072095   -.1308037
                   dummy2_235 |  -.1729638   .0187419    -9.23   0.000    -.2097253   -.1362023
                   dummy2_236 |  -.1702226   .0187614    -9.07   0.000    -.2070223   -.1334229
                   dummy2_237 |   -.176298   .0185483    -9.50   0.000    -.2126797   -.1399164
                   dummy2_238 |  -.1761516   .0185437    -9.50   0.000    -.2125242    -.139779
                   dummy2_239 |  -.1758777    .018535    -9.49   0.000    -.2122332   -.1395221
                   dummy2_240 |  -.1737371   .0185509    -9.37   0.000    -.2101238   -.1373504
                   dummy2_241 |  -.1742499   .0185298    -9.40   0.000    -.2105953   -.1379045
                   dummy2_242 |  -.1752104   .0185301    -9.46   0.000    -.2115564   -.1388643
                   dummy2_243 |  -.0007514   .0180543    -0.04   0.967    -.0361641    .0346614
                   dummy2_244 |   .0206818   .0226389     0.91   0.361    -.0237235    .0650872
                   dummy2_245 |   .0008405   .0180456     0.05   0.963    -.0345551    .0362361
                   dummy2_246 |    .003489   .0185844     0.19   0.851    -.0329634    .0399415
                   dummy2_247 |   .0000263   .0180692     0.00   0.999    -.0354157    .0354684
                   dummy2_248 |   .0003514   .0180396     0.02   0.984    -.0350324    .0357353
                   dummy2_249 |   .0294838   .0295521     1.00   0.319    -.0284815     .087449
                   dummy2_250 |    .003425   .0181323     0.19   0.850    -.0321407    .0389906
                   dummy2_251 |   .0003404   .0180531     0.02   0.985    -.0350699    .0357508
                   dummy2_252 |   .0005506   .0180485     0.03   0.976    -.0348507    .0359519
                   dummy2_253 |   .0004835   .0180622     0.03   0.979    -.0349448    .0359117
                   dummy2_254 |   .0010739   .0180786     0.06   0.953    -.0343865    .0365344
                   dummy2_255 |  -.0001941   .0187188    -0.01   0.992    -.0369102     .036522
                   dummy2_256 |   .0028557   .0182271     0.16   0.876    -.0328961    .0386075
                   dummy2_257 |   .0019396   .0182166     0.11   0.915    -.0337915    .0376708
                   dummy2_258 |   .0047807    .018312     0.26   0.794    -.0311375    .0406989
                   dummy2_259 |  -.0011627   .0180572    -0.06   0.949     -.036581    .0342557
                   dummy2_260 |  -.0012405   .0180525    -0.07   0.945    -.0366496    .0341687
                   dummy2_261 |  -.0008289   .0180455    -0.05   0.963    -.0362243    .0345665
                   dummy2_262 |   .0016188   .0180674     0.09   0.929    -.0338197    .0370572
                   dummy2_263 |   .0009309   .0180441     0.05   0.959    -.0344619    .0363236
                              |
                       per108 |
                          L1. |   .0128809   .0012468    10.33   0.000     .0104353    .0153265
                              |
                       per403 |
                          L1. |  -.0083858   .0014769    -5.68   0.000    -.0112827   -.0054889
                              |
                       per404 |
                          L1. |    .006078   .0029604     2.05   0.040     .0002713    .0118847
                              |
                       per505 |
                          L1. |   .0011048   .0039684     0.28   0.781    -.0066791    .0088887
                              |
                        _cons |   .5838383   .0154505    37.79   0.000     .5535329    .6141438
-----------------------------------------------------------------------------------------------
Included instruments: labourproductivityleaderklems L.tecnogapklemsLP ind_trend
                      L.tradelib L.pmr y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10
                      dummy2_1 dummy2_2 dummy2_3 dummy2_4 dummy2_5 dummy2_6
                      dummy2_7 dummy2_8 dummy2_9 dummy2_10 dummy2_11 dummy2_12
                      dummy2_13 dummy2_14 dummy2_15 dummy2_16 dummy2_17
                      dummy2_18 dummy2_19 dummy2_20 dummy2_21 dummy2_22
                      dummy2_23 dummy2_24 dummy2_25 dummy2_26 dummy2_27
                      dummy2_28 dummy2_29 dummy2_30 dummy2_31 dummy2_32
                      dummy2_33 dummy2_34 dummy2_35 dummy2_36 dummy2_37
                      dummy2_38 dummy2_39 dummy2_40 dummy2_41 dummy2_42
                      dummy2_43 dummy2_44 dummy2_45 dummy2_47 dummy2_48
                      dummy2_50 dummy2_51 dummy2_52 dummy2_53 dummy2_54
                      dummy2_55 dummy2_56 dummy2_57 dummy2_58 dummy2_59
                      dummy2_60 dummy2_61 dummy2_62 dummy2_63 dummy2_64
                      dummy2_65 dummy2_66 dummy2_67 dummy2_68 dummy2_69
                      dummy2_70 dummy2_71 dummy2_72 dummy2_73 dummy2_74
                      dummy2_75 dummy2_76 dummy2_77 dummy2_78 dummy2_79
                      dummy2_80 dummy2_81 dummy2_82 dummy2_83 dummy2_84
                      dummy2_85 dummy2_86 dummy2_87 dummy2_88 dummy2_89
                      dummy2_90 dummy2_91 dummy2_92 dummy2_93 dummy2_94
                      dummy2_95 dummy2_96 dummy2_97 dummy2_98 dummy2_99
                      dummy2_100 dummy2_101 dummy2_102 dummy2_103 dummy2_104
                      dummy2_105 dummy2_106 dummy2_109 dummy2_111 dummy2_112
                      dummy2_113 dummy2_114 dummy2_115 dummy2_116 dummy2_117
                      dummy2_118 dummy2_119 dummy2_120 dummy2_121 dummy2_122
                      dummy2_123 dummy2_124 dummy2_125 dummy2_126 dummy2_127
                      dummy2_128 dummy2_129 dummy2_130 dummy2_131 dummy2_132
                      dummy2_133 dummy2_134 dummy2_135 dummy2_136 dummy2_137
                      dummy2_138 dummy2_140 dummy2_141 dummy2_142 dummy2_143
                      dummy2_144 dummy2_145 dummy2_146 dummy2_147 dummy2_148
                      dummy2_149 dummy2_150 dummy2_151 dummy2_152 dummy2_153
                      dummy2_154 dummy2_155 dummy2_157 dummy2_158 dummy2_159
                      dummy2_160 dummy2_161 dummy2_162 dummy2_163 dummy2_164
                      dummy2_165 dummy2_166 dummy2_167 dummy2_168 dummy2_169
                      dummy2_170 dummy2_171 dummy2_172 dummy2_173 dummy2_174
                      dummy2_175 dummy2_176 dummy2_177 dummy2_178 dummy2_179
                      dummy2_180 dummy2_181 dummy2_182 dummy2_183 dummy2_184
                      dummy2_185 dummy2_186 dummy2_187 dummy2_188 dummy2_189
                      dummy2_190 dummy2_191 dummy2_192 dummy2_193 dummy2_194
                      dummy2_197 dummy2_198 dummy2_199 dummy2_200 dummy2_201
                      dummy2_202 dummy2_203 dummy2_204 dummy2_205 dummy2_206
                      dummy2_207 dummy2_208 dummy2_209 dummy2_210 dummy2_211
                      dummy2_212 dummy2_213 dummy2_214 dummy2_215 dummy2_216
                      dummy2_217 dummy2_218 dummy2_219 dummy2_220 dummy2_221
                      dummy2_222 dummy2_223 dummy2_224 dummy2_225 dummy2_226
                      dummy2_227 dummy2_228 dummy2_229 dummy2_230 dummy2_231
                      dummy2_232 dummy2_233 dummy2_234 dummy2_235 dummy2_236
                      dummy2_237 dummy2_238 dummy2_239 dummy2_240 dummy2_241
                      dummy2_242 dummy2_243 dummy2_244 dummy2_245 dummy2_246
                      dummy2_247 dummy2_248 dummy2_249 dummy2_250 dummy2_251
                      dummy2_252 dummy2_253 dummy2_254 dummy2_255 dummy2_256
                      dummy2_257 dummy2_258 dummy2_259 dummy2_260 dummy2_261
                      dummy2_262 dummy2_263 L.per108 L.per403 L.per404 L.per505
------------------------------------------------------------------------------
F test of excluded instruments:
  F(  4,  1590) =    51.70
  Prob > F      =   0.0000
Angrist-Pischke multivariate F test of excluded instruments:
  F(  4,  1590) =    51.70
  Prob > F      =   0.0000



Summary results for first-stage regressions
-------------------------------------------

                                           (Underid)            (Weak id)
Variable     | F(  4,  1590)  P-val | AP Chi-sq(  4) P-val | AP F(  4,  1590)
L.compindex  |      51.70    0.0000 |      242.30   0.0000 |       51.70

Stock-Yogo weak ID test critical values for single endogenous regressor:
                                    5% maximal IV relative bias    16.85
                                   10% maximal IV relative bias    10.27
                                   20% maximal IV relative bias     6.71
                                   30% maximal IV relative bias     5.34
                                   10% maximal IV size             24.58
                                   15% maximal IV size             13.96
                                   20% maximal IV size             10.26
                                   25% maximal IV size              8.31
Source: Stock-Yogo (2005).  Reproduced by permission.

Underidentification test
Ho: matrix of reduced form coefficients has rank=K1-1 (underidentified)
Ha: matrix has rank=K1 (identified)
Anderson canon. corr. LM statistic       Chi-sq(4)=214.41   P-val=0.0000

Weak identification test
Ho: equation is weakly identified
Cragg-Donald Wald F statistic                                      51.70

Stock-Yogo weak ID test critical values for K1=1 and L1=4:
                                    5% maximal IV relative bias    16.85
                                   10% maximal IV relative bias    10.27
                                   20% maximal IV relative bias     6.71
                                   30% maximal IV relative bias     5.34
                                   10% maximal IV size             24.58
                                   15% maximal IV size             13.96
                                   20% maximal IV size             10.26
                                   25% maximal IV size              8.31
Source: Stock-Yogo (2005).  Reproduced by permission.

Weak-instrument-robust inference
Tests of joint significance of endogenous regressors B1 in main equation
Ho: B1=0 and orthogonality conditions are valid
Anderson-Rubin Wald test           F(4,1590)=      3.04     P-val=0.0165
Anderson-Rubin Wald test           Chi-sq(4)=     14.25     P-val=0.0065
Stock-Wright LM S statistic        Chi-sq(4)=     14.14     P-val=0.0069

Number of observations               N  =       1863
Number of regressors                 K  =        270
Number of endogenous regressors      K1 =          1
Number of instruments                L  =        273
Number of excluded instruments       L1 =          4

IV (2SLS) estimation
--------------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1863
                                                      F(269,  1593) =     2.18
                                                      Prob > F      =   0.0000
Total (centered) SS     =  9.823205819                Centered R2   =   0.2604
Total (uncentered) SS   =  11.48455834                Uncentered R2 =   0.3674
Residual SS             =  7.264820494                Root MSE      =   .06245

-----------------------------------------------------------------------------------------------
                     LPgrowth |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
------------------------------+----------------------------------------------------------------
                    compindex |
                          L1. |   .2803506   .1076915     2.60   0.009     .0692791    .4914221
                              |
labourproductivityleaderklems |   -.334224   .2095028    -1.60   0.111    -.7448419    .0763939
                              |
              tecnogapklemsLP |
                          L1. |   .0103089   .0012861     8.02   0.000     .0077882    .0128296
                              |
                    ind_trend |   .0682987   .0250585     2.73   0.006     .0191849    .1174124
                              |
                     tradelib |
                          L1. |   .0222375   .0038401     5.79   0.000      .014711     .029764
                              |
                          pmr |
                          L1. |  -.0287905   .0145419    -1.98   0.048    -.0572921    -.000289
                              |
                          y_2 |   .0349354   .0170751     2.05   0.041     .0014688     .068402
                          y_3 |   .0278716   .0153977     1.81   0.070    -.0023073    .0580506
                          y_4 |   .0152727    .015667     0.97   0.330    -.0154341    .0459796
                          y_5 |   .0422085   .0157513     2.68   0.007     .0113365    .0730805
                          y_6 |   .0455513   .0128705     3.54   0.000     .0203256     .070777
                          y_7 |   .0087515   .0105952     0.83   0.409    -.0120147    .0295177
                          y_8 |   .0086156    .009472     0.91   0.363    -.0099491    .0271803
                          y_9 |   .0095587   .0086032     1.11   0.267    -.0073034    .0264207
                         y_10 |   .0115866   .0069333     1.67   0.095    -.0020024    .0251756
                     dummy2_1 |   .0177466   .0415859     0.43   0.670    -.0637602    .0992534
                     dummy2_2 |  -.0440342   .0468388    -0.94   0.347    -.1358366    .0477682
                     dummy2_3 |  -.0053163   .0415984    -0.13   0.898    -.0868477    .0762151
                     dummy2_4 |  -.0511187   .0421364    -1.21   0.225    -.1337047    .0314672
                     dummy2_5 |   .0132663   .0415015     0.32   0.749    -.0680751    .0946078
                     dummy2_6 |  -.0017228   .0415427    -0.04   0.967    -.0831451    .0796995
                     dummy2_7 |  -.2441159   .0579886    -4.21   0.000    -.3577715   -.1304603
                     dummy2_8 |  -.0030086   .0425005    -0.07   0.944    -.0863081    .0802909
                     dummy2_9 |  -.0193636   .0417726    -0.46   0.643    -.1012363    .0625091
                    dummy2_10 |  -.0027424   .0416812    -0.07   0.948     -.084436    .0789513
                    dummy2_11 |  -.0015779   .0416776    -0.04   0.970    -.0832644    .0801086
                    dummy2_12 |  -.0245467    .043127    -0.57   0.569     -.109074    .0599806
                    dummy2_13 |   .0498348   .0691827     0.72   0.471    -.0857609    .1854305
                    dummy2_14 |  -.0318752   .0426076    -0.75   0.454    -.1153846    .0516342
                    dummy2_15 |  -.0112037   .0417962    -0.27   0.789    -.0931228    .0707155
                    dummy2_16 |  -.0067772   .0417218    -0.16   0.871    -.0885505    .0749961
                    dummy2_17 |   .0081817   .0415268     0.20   0.844    -.0732093    .0895727
                    dummy2_18 |   -.035016    .041866    -0.84   0.403    -.1170718    .0470399
                    dummy2_19 |   .0143093    .041534     0.34   0.730    -.0670959    .0957145
                    dummy2_20 |   .0282352   .0416285     0.68   0.498    -.0533551    .1098255
                    dummy2_21 |  -.0132675   .0415508    -0.32   0.749    -.0947055    .0681706
                    dummy2_22 |   -.020412     .04187    -0.49   0.626    -.1024756    .0616516
                    dummy2_23 |   .1094621   .0408212     2.68   0.007     .0294541    .1894701
                    dummy2_24 |  -.2370825     .06042    -3.92   0.000    -.3555035   -.1186615
                    dummy2_25 |   .0343276   .0408957     0.84   0.401    -.0458266    .1144817
                    dummy2_26 |   .0428543   .0414585     1.03   0.301    -.0384029    .1241114
                    dummy2_27 |   .0810255   .0409159     1.98   0.048     .0008317    .1612192
                    dummy2_28 |   .0138341   .0423956     0.33   0.744    -.0692597     .096928
                    dummy2_29 |   -.000165   .0541905    -0.00   0.998    -.1063765    .1060464
                    dummy2_30 |   .0082387   .0421734     0.20   0.845    -.0744196    .0908971
                    dummy2_31 |   .0947189   .0409834     2.31   0.021     .0143929    .1750448
                    dummy2_32 |   .1066613   .0407682     2.62   0.009     .0267572    .1865654
                    dummy2_33 |   .0156704   .0410018     0.38   0.702    -.0646917    .0960325
                    dummy2_34 |   .0673889   .0411032     1.64   0.101    -.0131718    .1479497
                    dummy2_35 |   .0275407   .0427453     0.64   0.519    -.0562386      .11132
                    dummy2_36 |    .062148     .04198     1.48   0.139    -.0201312    .1444272
                    dummy2_37 |   .0265873   .0410749     0.65   0.517     -.053918    .1070926
                    dummy2_38 |   .0580249   .0410819     1.41   0.158    -.0224941    .1385439
                    dummy2_39 |   .0492754   .0408526     1.21   0.228    -.0307943    .1293451
                    dummy2_40 |  -.0216966   .0408739    -0.53   0.596     -.101808    .0584148
                    dummy2_41 |   .0563278   .0407824     1.38   0.167    -.0236043    .1362598
                    dummy2_42 |   .1407462   .0407383     3.45   0.001     .0609005    .2205918
                    dummy2_43 |   .0750881   .0411071     1.83   0.068    -.0054802    .1556565
                    dummy2_44 |   .0480047   .0408168     1.18   0.240    -.0319948    .1280042
                    dummy2_45 |   .1381283   .0582327     2.37   0.018     .0239942    .2522624
                    dummy2_47 |   .0606178   .0581471     1.04   0.297    -.0533485     .174584
                    dummy2_48 |   .0638063   .0524696     1.22   0.224    -.0390323    .1666448
                    dummy2_50 |    .075067   .0519546     1.44   0.148    -.0267622    .1768962
                    dummy2_51 |  -.1938362   .0763782    -2.54   0.011    -.3435347   -.0441376
                    dummy2_52 |   .0424269   .0583367     0.73   0.467    -.0719109    .1567647
                    dummy2_53 |   .1022957   .0581809     1.76   0.079    -.0117367    .2163282
                    dummy2_54 |   .0723146   .0581638     1.24   0.214    -.0416844    .1863137
                    dummy2_55 |   .0584542   .0581749     1.00   0.315    -.0555665     .172475
                    dummy2_56 |   .1065245   .0582778     1.83   0.068    -.0076979    .2207468
                    dummy2_57 |   .1073566    .052205     2.06   0.040     .0050366    .2096766
                    dummy2_58 |   .0446118   .0522704     0.85   0.393    -.0578362    .1470599
                    dummy2_59 |   .1101238   .0582199     1.89   0.059    -.0039851    .2242327
                    dummy2_60 |   .1627007   .0582716     2.79   0.005     .0484904    .2769109
                    dummy2_61 |   .0778277   .0582839     1.34   0.182    -.0364066    .1920621
                    dummy2_62 |   .0797113   .0582689     1.37   0.171    -.0344935    .1939162
                    dummy2_63 |   .0582538   .0582608     1.00   0.317    -.0559352    .1724428
                    dummy2_64 |   .2419461   .0581775     4.16   0.000     .1279202    .3559719
                    dummy2_65 |   .1088954    .058194     1.87   0.061    -.0051629    .2229536
                    dummy2_66 |   .0951568   .0520253     1.83   0.067     -.006811    .1971246
                    dummy2_67 |   .0673905   .0320099     2.11   0.035     .0046523    .1301287
                    dummy2_68 |   -.193413   .0461051    -4.20   0.000    -.2837774   -.1030486
                    dummy2_69 |   .0170017   .0319537     0.53   0.595    -.0456264    .0796298
                    dummy2_70 |  -.0009771   .0341269    -0.03   0.977    -.0678646    .0659105
                    dummy2_71 |   .0613964   .0319625     1.92   0.055    -.0012489    .1240417
                    dummy2_72 |   .0436178   .0319056     1.37   0.172    -.0189159    .1061516
                    dummy2_73 |  -.1054307   .0479315    -2.20   0.028    -.1993748   -.0114866
                    dummy2_74 |   .0675851   .0320615     2.11   0.035     .0047456    .1304245
                    dummy2_75 |   .0479289   .0319413     1.50   0.133     -.014675    .1105327
                    dummy2_76 |   .0567947   .0319103     1.78   0.075    -.0057483    .1193377
                    dummy2_77 |   .0358333   .0319467     1.12   0.262    -.0267811    .0984476
                    dummy2_78 |   .0407405   .0319257     1.28   0.202    -.0218328    .1033138
                    dummy2_79 |    .060125   .0321572     1.87   0.062    -.0029021     .123152
                    dummy2_80 |   .0461785   .0320337     1.44   0.149    -.0166064    .1089634
                    dummy2_81 |   .0212196   .0320367     0.66   0.508    -.0415711    .0840103
                    dummy2_82 |    .108855   .0321321     3.39   0.001     .0458772    .1718328
                    dummy2_83 |   .0435759   .0319907     1.36   0.173    -.0191248    .1062766
                    dummy2_84 |   .0261785   .0319897     0.82   0.413    -.0365202    .0888771
                    dummy2_85 |   .0695146   .0319617     2.17   0.030     .0068709    .1321583
                    dummy2_86 |   .1217042   .0319079     3.81   0.000     .0591658    .1842426
                    dummy2_87 |   .0314856   .0319043     0.99   0.324    -.0310456    .0940169
                    dummy2_88 |   .0225652   .0319288     0.71   0.480     -.040014    .0851445
                    dummy2_89 |   .0835081   .0369404     2.26   0.024     .0111062      .15591
                    dummy2_90 |  -.7883417   .1044162    -7.55   0.000    -.9929936   -.5836897
                    dummy2_91 |   -.021153   .0467065    -0.45   0.651    -.1126961    .0703901
                    dummy2_92 |    .018557   .0479312     0.39   0.699    -.0753864    .1125004
                    dummy2_93 |   .0768506   .0468681     1.64   0.101    -.0150092    .1687103
                    dummy2_94 |   .0453909   .0469115     0.97   0.333    -.0465539    .1373357
                    dummy2_95 |   .1814509   .0731433     2.48   0.013     .0380926    .3248091
                    dummy2_96 |   .0213949   .0477144     0.45   0.654    -.0721236    .1149135
                    dummy2_97 |   .0168669   .0478026     0.35   0.724    -.0768244    .1105583
                    dummy2_98 |   .0059762   .0466493     0.13   0.898    -.0854548    .0974072
                    dummy2_99 |  -.0177003   .0475119    -0.37   0.709     -.110822    .0754214
                   dummy2_100 |   .0920043   .0557103     1.65   0.099    -.0171859    .2011944
                   dummy2_101 |   .0371525   .0504372     0.74   0.461    -.0617026    .1360075
                   dummy2_102 |   .0064004   .0479059     0.13   0.894    -.0874935    .1002943
                   dummy2_103 |   .0341698    .047507     0.72   0.472    -.0589422    .1272819
                   dummy2_104 |   .0197809   .0411933     0.48   0.631    -.0609566    .1005184
                   dummy2_105 |   .0493513   .0369927     1.33   0.182    -.0231532    .1218557
                   dummy2_106 |   .0141144   .0371283     0.38   0.704    -.0586556    .0868845
                   dummy2_109 |   .1089184   .0378967     2.87   0.004     .0346422    .1831946
                   dummy2_111 |   .0564374   .0421839     1.34   0.181    -.0262416    .1391164
                   dummy2_112 |   -.047671   .0480217    -0.99   0.321    -.1417918    .0464499
                   dummy2_113 |   .0231796   .0421059     0.55   0.582    -.0593465    .1057057
                   dummy2_114 |    .036253   .0421022     0.86   0.389    -.0462657    .1187718
                   dummy2_115 |   .0607131   .0421337     1.44   0.150    -.0218674    .1432936
                   dummy2_116 |   .0544724    .042046     1.30   0.195    -.0279361     .136881
                   dummy2_117 |  -.0303385   .0522207    -0.58   0.561    -.1326892    .0720123
                   dummy2_118 |   .0399871   .0422674     0.95   0.344    -.0428554    .1228296
                   dummy2_119 |   .0525233   .0420569     1.25   0.212    -.0299066    .1349532
                   dummy2_120 |   .0688727     .04207     1.64   0.102    -.0135829    .1513283
                   dummy2_121 |   .0435265    .042081     1.03   0.301    -.0389508    .1260038
                   dummy2_122 |   .0398457   .0420492     0.95   0.343    -.0425692    .1222605
                   dummy2_123 |   .0278385   .0422147     0.66   0.510    -.0549007    .1105778
                   dummy2_124 |   .0049405    .042686     0.12   0.908    -.0787225    .0886036
                   dummy2_125 |   .0502156   .0421213     1.19   0.233    -.0323407    .1327719
                   dummy2_126 |   .1116364   .0421219     2.65   0.008     .0290791    .1941937
                   dummy2_127 |   .0544023   .0421524     1.29   0.197    -.0282149    .1370195
                   dummy2_128 |   .0415677   .0421744     0.99   0.324    -.0410926     .124228
                   dummy2_129 |   .0648004    .042125     1.54   0.124    -.0177631     .147364
                   dummy2_130 |   .1643706   .0420454     3.91   0.000     .0819632    .2467781
                   dummy2_131 |   .0871616   .0420345     2.07   0.038     .0047754    .1695477
                   dummy2_132 |   .0685129   .0420703     1.63   0.103    -.0139434    .1509692
                   dummy2_133 |   .0211933   .0437718     0.48   0.628    -.0645979    .1069846
                   dummy2_134 |  -.2615972   .0671746    -3.89   0.000    -.3932571   -.1299373
                   dummy2_135 |  -.0408687   .0528597    -0.77   0.439    -.1444719    .0627344
                   dummy2_136 |   .0061128   .0412732     0.15   0.882    -.0747811    .0870067
                   dummy2_137 |   .0241631   .0408384     0.59   0.554    -.0558787    .1042049
                   dummy2_138 |   .0031168   .0443426     0.07   0.944     -.083793    .0900266
                   dummy2_140 |   .0288086   .0447256     0.64   0.519     -.058852    .1164692
                   dummy2_141 |   .0548693   .0414268     1.32   0.185    -.0263257    .1360643
                   dummy2_142 |   .0705926   .0410666     1.72   0.086    -.0098965    .1510817
                   dummy2_143 |  -.0129619   .0494162    -0.26   0.793    -.1098159    .0838921
                   dummy2_144 |    .008538   .0464862     0.18   0.854    -.0825733    .0996492
                   dummy2_145 |  -.0082563   .0620305    -0.13   0.894    -.1298339    .1133214
                   dummy2_146 |   .0148275   .0477849     0.31   0.756    -.0788291    .1084841
                   dummy2_147 |   .0539265   .0409161     1.32   0.188    -.0262676    .1341207
                   dummy2_148 |   .0605007   .0478449     1.26   0.206    -.0332736    .1542749
                   dummy2_149 |  -.1797497   .0948463    -1.90   0.058     -.365645    .0061455
                   dummy2_150 |  -.0394311   .0529647    -0.74   0.457    -.1432399    .0643778
                   dummy2_151 |  -.0807825   .0656904    -1.23   0.219    -.2095334    .0479684
                   dummy2_152 |   .0903904   .0468479     1.93   0.054    -.0014299    .1822107
                   dummy2_153 |  -.0982481   .0809287    -1.21   0.225    -.2568654    .0603692
                   dummy2_154 |  -.1832846   .0996901    -1.84   0.066    -.3786735    .0121043
                   dummy2_155 |   .0428675   .0343917     1.25   0.213     -.024539    .1102741
                   dummy2_157 |    .033296   .0344039     0.97   0.333    -.0341344    .1007263
                   dummy2_158 |  -.0889398   .0420068    -2.12   0.034    -.1712716   -.0066079
                   dummy2_159 |  -.0270302   .0350421    -0.77   0.440    -.0957115    .0416511
                   dummy2_160 |   .0428211   .0342983     1.25   0.212    -.0244024    .1100446
                   dummy2_161 |   .0336616    .044215     0.76   0.446    -.0529981    .1203214
                   dummy2_162 |   .0613309   .0350418     1.75   0.080    -.0073498    .1300115
                   dummy2_163 |    .003509   .0351728     0.10   0.921    -.0654284    .0724464
                   dummy2_164 |   .0343455   .0343505     1.00   0.317    -.0329803    .1016713
                   dummy2_165 |   .0314938   .0345828     0.91   0.362    -.0362871    .0992748
                   dummy2_166 |  -.0178416   .0360204    -0.50   0.620    -.0884402    .0527571
                   dummy2_167 |  -.2347742   .0531556    -4.42   0.000    -.3389572   -.1305911
                   dummy2_168 |  -.0507734   .0385647    -1.32   0.188    -.1263588    .0248121
                   dummy2_169 |   .0323616   .0343677     0.94   0.346    -.0349978    .0997211
                   dummy2_170 |    .098754   .0345178     2.86   0.004     .0311004    .1664076
                   dummy2_171 |    .023125   .0343536     0.67   0.501    -.0442068    .0904569
                   dummy2_172 |   .0104878    .034347     0.31   0.760    -.0568311    .0778067
                   dummy2_173 |    .038676   .0343249     1.13   0.260    -.0285997    .1059516
                   dummy2_174 |   .1102281   .0371054     2.97   0.003     .0375029    .1829534
                   dummy2_175 |    .075555   .0342647     2.21   0.027     .0083974    .1427126
                   dummy2_176 |   .0350762   .0342874     1.02   0.306    -.0321259    .1022784
                   dummy2_177 |   .1205128   .0584275     2.06   0.039     .0059971    .2350286
                   dummy2_178 |  -.1856855   .0712433    -2.61   0.009    -.3253199   -.0460512
                   dummy2_179 |   .0770365   .0583361     1.32   0.187    -.0373002    .1913732
                   dummy2_180 |   .0542835   .0584325     0.93   0.353    -.0602421    .1688092
                   dummy2_181 |     .06406    .058382     1.10   0.273    -.0503666    .1784866
                   dummy2_182 |   .1122692   .0583541     1.92   0.054    -.0021027    .2266411
                   dummy2_183 |   .0926087   .0626087     1.48   0.139    -.0301022    .2153196
                   dummy2_184 |   .0823882   .0584773     1.41   0.159    -.0322252    .1970017
                   dummy2_185 |   .1018264   .0583728     1.74   0.081    -.0125821    .2162349
                   dummy2_186 |   .0990629   .0583812     1.70   0.090    -.0153622    .2134879
                   dummy2_187 |   .0993609   .0583636     1.70   0.089    -.0150296    .2137514
                   dummy2_188 |   .0579178   .0585502     0.99   0.323    -.0568385     .172674
                   dummy2_189 |    .038925   .0590884     0.66   0.510    -.0768861    .1547362
                   dummy2_190 |   .0426841   .0589288     0.72   0.469    -.0728143    .1581825
                   dummy2_191 |   .0474046   .0583778     0.81   0.417    -.0670139    .1618231
                   dummy2_192 |    .183288   .0584712     3.13   0.002     .0686866    .2978893
                   dummy2_193 |   .1131072   .0584759     1.93   0.053    -.0015035    .2277178
                   dummy2_194 |    .104417   .0584714     1.79   0.074    -.0101849    .2190188
                   dummy2_197 |   .1205785   .0583896     2.07   0.039      .006137    .2350199
                   dummy2_198 |   .0716864   .0584075     1.23   0.220    -.0427902     .186163
                   dummy2_199 |   .0072245    .028901     0.25   0.803    -.0494204    .0638694
                   dummy2_200 |  -.2548738   .0478194    -5.33   0.000    -.3485981   -.1611495
                   dummy2_201 |  -.0227377   .0290933    -0.78   0.434    -.0797594    .0342841
                   dummy2_202 |  -.1426842   .0381358    -3.74   0.000    -.2174291   -.0679394
                   dummy2_203 |   .0158416   .0288652     0.55   0.583    -.0407331    .0724163
                   dummy2_204 |   .0051783   .0288437     0.18   0.858    -.0513543    .0617108
                   dummy2_205 |   -.044111   .0446682    -0.99   0.323    -.1316591    .0434371
                   dummy2_206 |   .0213488   .0294485     0.72   0.468    -.0363691    .0790667
                   dummy2_207 |  -.0354249   .0295061    -1.20   0.230    -.0932558     .022406
                   dummy2_208 |   -.017009   .0290823    -0.58   0.559    -.0740092    .0399913
                   dummy2_209 |  -.0301749   .0290758    -1.04   0.299    -.0871625    .0268126
                   dummy2_210 |  -.0173222   .0292326    -0.59   0.553    -.0746172    .0399727
                   dummy2_211 |   .0471512   .0352433     1.34   0.181    -.0219244    .1162269
                   dummy2_212 |    .019067     .02943     0.65   0.517    -.0386148    .0767487
                   dummy2_213 |  -.0143398   .0293947    -0.49   0.626    -.0719524    .0432727
                   dummy2_214 |   -.004992   .0293236    -0.17   0.865    -.0624652    .0524812
                   dummy2_215 |  -.0267982   .0288261    -0.93   0.353    -.0832964       .0297
                   dummy2_216 |  -.0120965   .0288338    -0.42   0.675    -.0686097    .0444167
                   dummy2_217 |   .0013882   .0288192     0.05   0.962    -.0550965    .0578728
                   dummy2_218 |    .070768   .0289277     2.45   0.014     .0140708    .1274652
                   dummy2_219 |   .0126148   .0288531     0.44   0.662    -.0439363    .0691659
                   dummy2_220 |  -.0182725   .0288294    -0.63   0.526    -.0747771    .0382322
                   dummy2_221 |   .0374759   .0323645     1.16   0.247    -.0259573    .1009091
                   dummy2_222 |   .0297908   .0375388     0.79   0.427    -.0437839    .1033656
                   dummy2_223 |   .0274987   .0322673     0.85   0.394    -.0357441    .0907415
                   dummy2_224 |    .028117   .0333476     0.84   0.399    -.0372431    .0934772
                   dummy2_225 |   .0154259   .0324366     0.48   0.634    -.0481486    .0790004
                   dummy2_226 |   .0390214   .0322434     1.21   0.226    -.0241746    .1022173
                   dummy2_227 |  -.0296169   .0429303    -0.69   0.490    -.1137587    .0545249
                   dummy2_228 |   .0309782   .0325789     0.95   0.342    -.0328752    .0948316
                   dummy2_229 |   .0298564   .0323013     0.92   0.355    -.0334531    .0931658
                   dummy2_230 |   .0650288   .0322494     2.02   0.044     .0018211    .1282366
                   dummy2_231 |   .0458988    .032334     1.42   0.156    -.0174748    .1092724
                   dummy2_232 |   .0353741   .0324873     1.09   0.276    -.0282997     .099048
                   dummy2_233 |   .0159647   .0337027     0.47   0.636    -.0500913    .0820208
                   dummy2_234 |   .0009924   .0332387     0.03   0.976    -.0641543    .0661391
                   dummy2_235 |   .0270206   .0324247     0.83   0.405    -.0365306    .0905719
                   dummy2_236 |   .0879507   .0324215     2.71   0.007     .0244057    .1514958
                   dummy2_237 |   .0441105   .0323473     1.36   0.173     -.019289      .10751
                   dummy2_238 |   .0404467    .032331     1.25   0.211     -.022921    .1038144
                   dummy2_239 |   .0620009   .0323181     1.92   0.055    -.0013414    .1253431
                   dummy2_240 |   .1206893   .0322305     3.74   0.000     .0575187    .1838599
                   dummy2_241 |    .077294   .0322324     2.40   0.016     .0141197    .1404683
                   dummy2_242 |   .0415403   .0322667     1.29   0.198    -.0217013    .1047819
                   dummy2_243 |    .016544   .0279597     0.59   0.554     -.038256     .071344
                   dummy2_244 |  -.0577438   .0351066    -1.64   0.100    -.1265515    .0110638
                   dummy2_245 |   .0184383   .0279461     0.66   0.509    -.0363352    .0732117
                   dummy2_246 |   .0282804    .028783     0.98   0.326    -.0281333     .084694
                   dummy2_247 |   .0040639   .0279828     0.15   0.885    -.0507813    .0589091
                   dummy2_248 |   .0343922   .0279368     1.23   0.218    -.0203629    .0891473
                   dummy2_249 |   .1203423   .0458305     2.63   0.009     .0305161    .2101684
                   dummy2_250 |   .0184124   .0280817     0.66   0.512    -.0366267    .0734516
                   dummy2_251 |     .03681   .0279577     1.32   0.188    -.0179862    .0916061
                   dummy2_252 |   .0320994   .0279506     1.15   0.251    -.0226828    .0868816
                   dummy2_253 |   .0310687   .0279719     1.11   0.267    -.0237552    .0858926
                   dummy2_254 |   .0381752   .0279974     1.36   0.173    -.0166988    .0930492
                   dummy2_255 |   .1236978   .0289879     4.27   0.000     .0668826     .180513
                   dummy2_256 |   .0332037   .0282287     1.18   0.240    -.0221236     .088531
                   dummy2_257 |   .0262125   .0282117     0.93   0.353    -.0290814    .0815065
                   dummy2_258 |   .0447615   .0283607     1.58   0.114    -.0108244    .1003473
                   dummy2_259 |  -.0191455   .0279643    -0.68   0.494    -.0739545    .0356634
                   dummy2_260 |   .0038051   .0279569     0.14   0.892    -.0509894    .0585996
                   dummy2_261 |   .0163277    .027946     0.58   0.559    -.0384456    .0711009
                   dummy2_262 |   .0618546     .02798     2.21   0.027     .0070148    .1166944
                   dummy2_263 |   .0282366   .0279439     1.01   0.312    -.0265324    .0830056
                        _cons |  -.1534296   .0668679    -2.29   0.022    -.2844884   -.0223709
-----------------------------------------------------------------------------------------------
Underidentification test (Anderson canon. corr. LM statistic):         214.414
                                                   Chi-sq(4) P-val =    0.0000
------------------------------------------------------------------------------
Weak identification test (Cragg-Donald Wald F statistic):               51.699
Stock-Yogo weak ID test critical values:  5% maximal IV relative bias    16.85
                                         10% maximal IV relative bias    10.27
                                         20% maximal IV relative bias     6.71
                                         30% maximal IV relative bias     5.34
                                         10% maximal IV size             24.58
                                         15% maximal IV size             13.96
                                         20% maximal IV size             10.26
                                         25% maximal IV size              8.31
Source: Stock-Yogo (2005).  Reproduced by permission.
------------------------------------------------------------------------------
Sargan statistic (overidentification test of all instruments):           7.186
                                                   Chi-sq(3) P-val =    0.0662
------------------------------------------------------------------------------
Instrumented:         L.compindex
Included instruments: labourproductivityleaderklems L.tecnogapklemsLP ind_trend
                      L.tradelib L.pmr y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10
                      dummy2_1 dummy2_2 dummy2_3 dummy2_4 dummy2_5 dummy2_6
                      dummy2_7 dummy2_8 dummy2_9 dummy2_10 dummy2_11 dummy2_12
                      dummy2_13 dummy2_14 dummy2_15 dummy2_16 dummy2_17
                      dummy2_18 dummy2_19 dummy2_20 dummy2_21 dummy2_22
                      dummy2_23 dummy2_24 dummy2_25 dummy2_26 dummy2_27
                      dummy2_28 dummy2_29 dummy2_30 dummy2_31 dummy2_32
                      dummy2_33 dummy2_34 dummy2_35 dummy2_36 dummy2_37
                      dummy2_38 dummy2_39 dummy2_40 dummy2_41 dummy2_42
                      dummy2_43 dummy2_44 dummy2_45 dummy2_47 dummy2_48
                      dummy2_50 dummy2_51 dummy2_52 dummy2_53 dummy2_54
                      dummy2_55 dummy2_56 dummy2_57 dummy2_58 dummy2_59
                      dummy2_60 dummy2_61 dummy2_62 dummy2_63 dummy2_64
                      dummy2_65 dummy2_66 dummy2_67 dummy2_68 dummy2_69
                      dummy2_70 dummy2_71 dummy2_72 dummy2_73 dummy2_74
                      dummy2_75 dummy2_76 dummy2_77 dummy2_78 dummy2_79
                      dummy2_80 dummy2_81 dummy2_82 dummy2_83 dummy2_84
                      dummy2_85 dummy2_86 dummy2_87 dummy2_88 dummy2_89
                      dummy2_90 dummy2_91 dummy2_92 dummy2_93 dummy2_94
                      dummy2_95 dummy2_96 dummy2_97 dummy2_98 dummy2_99
                      dummy2_100 dummy2_101 dummy2_102 dummy2_103 dummy2_104
                      dummy2_105 dummy2_106 dummy2_109 dummy2_111 dummy2_112
                      dummy2_113 dummy2_114 dummy2_115 dummy2_116 dummy2_117
                      dummy2_118 dummy2_119 dummy2_120 dummy2_121 dummy2_122
                      dummy2_123 dummy2_124 dummy2_125 dummy2_126 dummy2_127
                      dummy2_128 dummy2_129 dummy2_130 dummy2_131 dummy2_132
                      dummy2_133 dummy2_134 dummy2_135 dummy2_136 dummy2_137
                      dummy2_138 dummy2_140 dummy2_141 dummy2_142 dummy2_143
                      dummy2_144 dummy2_145 dummy2_146 dummy2_147 dummy2_148
                      dummy2_149 dummy2_150 dummy2_151 dummy2_152 dummy2_153
                      dummy2_154 dummy2_155 dummy2_157 dummy2_158 dummy2_159
                      dummy2_160 dummy2_161 dummy2_162 dummy2_163 dummy2_164
                      dummy2_165 dummy2_166 dummy2_167 dummy2_168 dummy2_169
                      dummy2_170 dummy2_171 dummy2_172 dummy2_173 dummy2_174
                      dummy2_175 dummy2_176 dummy2_177 dummy2_178 dummy2_179
                      dummy2_180 dummy2_181 dummy2_182 dummy2_183 dummy2_184
                      dummy2_185 dummy2_186 dummy2_187 dummy2_188 dummy2_189
                      dummy2_190 dummy2_191 dummy2_192 dummy2_193 dummy2_194
                      dummy2_197 dummy2_198 dummy2_199 dummy2_200 dummy2_201
                      dummy2_202 dummy2_203 dummy2_204 dummy2_205 dummy2_206
                      dummy2_207 dummy2_208 dummy2_209 dummy2_210 dummy2_211
                      dummy2_212 dummy2_213 dummy2_214 dummy2_215 dummy2_216
                      dummy2_217 dummy2_218 dummy2_219 dummy2_220 dummy2_221
                      dummy2_222 dummy2_223 dummy2_224 dummy2_225 dummy2_226
                      dummy2_227 dummy2_228 dummy2_229 dummy2_230 dummy2_231
                      dummy2_232 dummy2_233 dummy2_234 dummy2_235 dummy2_236
                      dummy2_237 dummy2_238 dummy2_239 dummy2_240 dummy2_241
                      dummy2_242 dummy2_243 dummy2_244 dummy2_245 dummy2_246
                      dummy2_247 dummy2_248 dummy2_249 dummy2_250 dummy2_251
                      dummy2_252 dummy2_253 dummy2_254 dummy2_255 dummy2_256
                      dummy2_257 dummy2_258 dummy2_259 dummy2_260 dummy2_261
                      dummy2_262 dummy2_263
Excluded instruments: L.per108 L.per403 L.per404 L.per505
Dropped collinear:    y_1 y_11 dummy2_46 dummy2_49 dummy2_107 dummy2_108
                      dummy2_110 dummy2_139 dummy2_156 dummy2_195 dummy2_196
                      dummy2_264
------------------------------------------------------------------------------

. *ivendog
. eststo table4_5

. gen sample4_5=1 if e(sample)
(1052 missing values generated)

. ivreg2 LPgrowth labourproductivityleaderklems l.tecnogapklemsLP ind_trend l.tradelib y_*  dummy*  ( l.compindex l.pmr= l.p
> er108  l.per403  l.per404 l.per505)  if LPgrowth>-0.282 & LPgrowth<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, first
Warning - collinearities detected
Vars dropped:       y_1 y_11 dummy2_46 dummy2_49 dummy2_107 dummy2_108
                    dummy2_110 dummy2_139 dummy2_156 dummy2_195 dummy2_196
                    dummy2_264

First-stage regressions
-----------------------

First-stage regression of L.compindex:

OLS estimation
--------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1863
                                                      F(271,  1591) =    39.48
                                                      Prob > F      =   0.0000
Total (centered) SS     =  20.63051598                Centered R2   =   0.8705
Total (uncentered) SS   =  463.3850845                Uncentered R2 =   0.9942
Residual SS             =  2.670660691                Root MSE      =   .04097

-----------------------------------------------------------------------------------------------
                  L.compindex |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
------------------------------+----------------------------------------------------------------
labourproductivityleaderklems |  -.2092215   .1371144    -1.53   0.127    -.4781654    .0597223
                              |
              tecnogapklemsLP |
                          L1. |   .0001983   .0008455     0.23   0.815    -.0014602    .0018567
                              |
                    ind_trend |  -.0142847   .0164327    -0.87   0.385    -.0465168    .0179474
                              |
                     tradelib |
                          L1. |  -.0024916   .0025136    -0.99   0.322    -.0074218    .0024387
                              |
                          y_2 |  -.0832776   .0050701   -16.43   0.000    -.0932224   -.0733329
                          y_3 |  -.0612833   .0050352   -12.17   0.000    -.0711597    -.051407
                          y_4 |  -.0646352   .0048858   -13.23   0.000    -.0742186   -.0550519
                          y_5 |   -.076836   .0045484   -16.89   0.000    -.0857576   -.0679144
                          y_6 |  -.0842756   .0045339   -18.59   0.000    -.0931687   -.0753825
                          y_7 |  -.0562152   .0044026   -12.77   0.000    -.0648506   -.0475797
                          y_8 |  -.0399007   .0044091    -9.05   0.000     -.048549   -.0312523
                          y_9 |  -.0197027   .0044467    -4.43   0.000    -.0284247   -.0109807
                         y_10 |  -.0119678   .0044802    -2.67   0.008    -.0207555   -.0031801
                     dummy2_1 |    -.02885   .0270963    -1.06   0.287    -.0819983    .0242982
                     dummy2_2 |  -.0072639    .030668    -0.24   0.813    -.0674179    .0528902
                     dummy2_3 |  -.0268525   .0271187    -0.99   0.322    -.0800446    .0263397
                     dummy2_4 |   -.024777   .0274932    -0.90   0.368    -.0787037    .0291498
                     dummy2_5 |  -.0286367    .027038    -1.06   0.290    -.0816707    .0243972
                     dummy2_6 |  -.0275099    .027076    -1.02   0.310    -.0806183    .0255984
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                   dummy2_236 |  -.1636658   .0190405    -8.60   0.000     -.201013   -.1263187
                   dummy2_237 |  -.1700052   .0188255    -9.03   0.000    -.2069306   -.1330798
                   dummy2_238 |  -.1698429   .0188207    -9.02   0.000    -.2067589   -.1329269
                   dummy2_239 |  -.1695833   .0188119    -9.01   0.000    -.2064821   -.1326845
                   dummy2_240 |  -.1672409   .0188268    -8.88   0.000    -.2041687    -.130313
                   dummy2_241 |  -.1678143   .0188057    -8.92   0.000     -.204701   -.1309277
                   dummy2_242 |   -.168793   .0188062    -8.98   0.000    -.2056805   -.1319055
                   dummy2_243 |  -.0008513   .0183442    -0.05   0.963    -.0368328    .0351301
                   dummy2_244 |   .0220999   .0230017     0.96   0.337    -.0230168    .0672166
                   dummy2_245 |   .0008076   .0183354     0.04   0.965    -.0351565    .0367716
                   dummy2_246 |   .0035106   .0188828     0.19   0.853    -.0335272    .0405485
                   dummy2_247 |  -.0000292   .0183594    -0.00   0.999    -.0360404     .035982
                   dummy2_248 |   .0003006   .0183293     0.02   0.987    -.0356514    .0362527
                   dummy2_249 |   .0286216   .0300265     0.95   0.341    -.0302739    .0875172
                   dummy2_250 |   .0035218   .0184235     0.19   0.848     -.032615    .0396586
                   dummy2_251 |   .0002853    .018343     0.02   0.988    -.0356936    .0362643
                   dummy2_252 |   .0005029   .0183383     0.03   0.978    -.0354669    .0364727
                   dummy2_253 |   .0004327   .0183523     0.02   0.981    -.0355644    .0364299
                   dummy2_254 |   .0010432   .0183689     0.06   0.955    -.0349867     .037073
                   dummy2_255 |   -.000455   .0190194    -0.02   0.981    -.0377607    .0368506
                   dummy2_256 |   .0028875   .0185199     0.16   0.876    -.0334384    .0392133
                   dummy2_257 |   .0019231   .0185092     0.10   0.917    -.0343819     .038228
                   dummy2_258 |    .004961   .0186061     0.27   0.790    -.0315339     .041456
                   dummy2_259 |  -.0012733   .0183471    -0.07   0.945    -.0372604    .0347138
                   dummy2_260 |  -.0012608   .0183424    -0.07   0.945    -.0372386     .034717
                   dummy2_261 |  -.0009087   .0183353    -0.05   0.960    -.0368725    .0350551
                   dummy2_262 |   .0016298   .0183575     0.09   0.929    -.0343777    .0376373
                   dummy2_263 |   .0009456   .0183339     0.05   0.959    -.0350156    .0369067
                              |
                       per108 |
                          L1. |   .0123298   .0012645     9.75   0.000     .0098496      .01481
                              |
                       per403 |
                          L1. |  -.0127486   .0013703    -9.30   0.000    -.0154363   -.0100609
                              |
                       per404 |
                          L1. |   .0034201   .0029848     1.15   0.252    -.0024344    .0092746
                              |
                       per505 |
                          L1. |   .0192648   .0031264     6.16   0.000     .0131325    .0253972
                              |
                        _cons |   .6397403   .0136017    47.03   0.000     .6130611    .6664195
-----------------------------------------------------------------------------------------------
Included instruments: labourproductivityleaderklems L.tecnogapklemsLP ind_trend
                      L.tradelib y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10 dummy2_1
                      dummy2_2 dummy2_3 dummy2_4 dummy2_5 dummy2_6 dummy2_7
                      dummy2_8 dummy2_9 dummy2_10 dummy2_11 dummy2_12 dummy2_13
                      dummy2_14 dummy2_15 dummy2_16 dummy2_17 dummy2_18
                      dummy2_19 dummy2_20 dummy2_21 dummy2_22 dummy2_23
                      dummy2_24 dummy2_25 dummy2_26 dummy2_27 dummy2_28
                      dummy2_29 dummy2_30 dummy2_31 dummy2_32 dummy2_33
                      dummy2_34 dummy2_35 dummy2_36 dummy2_37 dummy2_38
                      dummy2_39 dummy2_40 dummy2_41 dummy2_42 dummy2_43
                      dummy2_44 dummy2_45 dummy2_47 dummy2_48 dummy2_50
                      dummy2_51 dummy2_52 dummy2_53 dummy2_54 dummy2_55
                      dummy2_56 dummy2_57 dummy2_58 dummy2_59 dummy2_60
                      dummy2_61 dummy2_62 dummy2_63 dummy2_64 dummy2_65
                      dummy2_66 dummy2_67 dummy2_68 dummy2_69 dummy2_70
                      dummy2_71 dummy2_72 dummy2_73 dummy2_74 dummy2_75
                      dummy2_76 dummy2_77 dummy2_78 dummy2_79 dummy2_80
                      dummy2_81 dummy2_82 dummy2_83 dummy2_84 dummy2_85
                      dummy2_86 dummy2_87 dummy2_88 dummy2_89 dummy2_90
                      dummy2_91 dummy2_92 dummy2_93 dummy2_94 dummy2_95
                      dummy2_96 dummy2_97 dummy2_98 dummy2_99 dummy2_100
                      dummy2_101 dummy2_102 dummy2_103 dummy2_104 dummy2_105
                      dummy2_106 dummy2_109 dummy2_111 dummy2_112 dummy2_113
                      dummy2_114 dummy2_115 dummy2_116 dummy2_117 dummy2_118
                      dummy2_119 dummy2_120 dummy2_121 dummy2_122 dummy2_123
                      dummy2_124 dummy2_125 dummy2_126 dummy2_127 dummy2_128
                      dummy2_129 dummy2_130 dummy2_131 dummy2_132 dummy2_133
                      dummy2_134 dummy2_135 dummy2_136 dummy2_137 dummy2_138
                      dummy2_140 dummy2_141 dummy2_142 dummy2_143 dummy2_144
                      dummy2_145 dummy2_146 dummy2_147 dummy2_148 dummy2_149
                      dummy2_150 dummy2_151 dummy2_152 dummy2_153 dummy2_154
                      dummy2_155 dummy2_157 dummy2_158 dummy2_159 dummy2_160
                      dummy2_161 dummy2_162 dummy2_163 dummy2_164 dummy2_165
                      dummy2_166 dummy2_167 dummy2_168 dummy2_169 dummy2_170
                      dummy2_171 dummy2_172 dummy2_173 dummy2_174 dummy2_175
                      dummy2_176 dummy2_177 dummy2_178 dummy2_179 dummy2_180
                      dummy2_181 dummy2_182 dummy2_183 dummy2_184 dummy2_185
                      dummy2_186 dummy2_187 dummy2_188 dummy2_189 dummy2_190
                      dummy2_191 dummy2_192 dummy2_193 dummy2_194 dummy2_197
                      dummy2_198 dummy2_199 dummy2_200 dummy2_201 dummy2_202
                      dummy2_203 dummy2_204 dummy2_205 dummy2_206 dummy2_207
                      dummy2_208 dummy2_209 dummy2_210 dummy2_211 dummy2_212
                      dummy2_213 dummy2_214 dummy2_215 dummy2_216 dummy2_217
                      dummy2_218 dummy2_219 dummy2_220 dummy2_221 dummy2_222
                      dummy2_223 dummy2_224 dummy2_225 dummy2_226 dummy2_227
                      dummy2_228 dummy2_229 dummy2_230 dummy2_231 dummy2_232
                      dummy2_233 dummy2_234 dummy2_235 dummy2_236 dummy2_237
                      dummy2_238 dummy2_239 dummy2_240 dummy2_241 dummy2_242
                      dummy2_243 dummy2_244 dummy2_245 dummy2_246 dummy2_247
                      dummy2_248 dummy2_249 dummy2_250 dummy2_251 dummy2_252
                      dummy2_253 dummy2_254 dummy2_255 dummy2_256 dummy2_257
                      dummy2_258 dummy2_259 dummy2_260 dummy2_261 dummy2_262
                      dummy2_263 L.per108 L.per403 L.per404 L.per505
------------------------------------------------------------------------------
F test of excluded instruments:
  F(  4,  1591) =    55.86
  Prob > F      =   0.0000
Angrist-Pischke multivariate F test of excluded instruments:
  F(  3,  1591) =    66.56
  Prob > F      =   0.0000

First-stage regression of L.pmr:

OLS estimation
--------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1863
                                                      F(271,  1591) =   210.78
                                                      Prob > F      =   0.0000
Total (centered) SS     =  552.4156821                Centered R2   =   0.9729
Total (uncentered) SS   =  6157.230988                Uncentered R2 =   0.9976
Residual SS             =  14.96943741                Root MSE      =     .097

-----------------------------------------------------------------------------------------------
                        L.pmr |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
------------------------------+----------------------------------------------------------------
labourproductivityleaderklems |  -.1196565   .3246208    -0.37   0.712     -.756386     .517073
                              |
              tecnogapklemsLP |
                          L1. |  -.0014176   .0020018    -0.71   0.479     -.005344    .0025087
                              |
                    ind_trend |   .0304629   .0389048     0.78   0.434    -.0458472     .106773
                              |
                     tradelib |
                          L1. |  -.0009056   .0059509    -0.15   0.879    -.0125781    .0107668
                              |
                          y_2 |   .5105468   .0120035    42.53   0.000     .4870024    .5340911
                          y_3 |   .5567833    .011921    46.71   0.000     .5334008    .5801658
                          y_4 |   .5778334   .0115673    49.95   0.000     .5551446    .6005222
                          y_5 |   .5693147   .0107685    52.87   0.000     .5481927    .5904367
                          y_6 |    .320329   .0107342    29.84   0.000     .2992744    .3413836
                          y_7 |   .3180658   .0104232    30.52   0.000     .2976212    .3385103
                          y_8 |   .2885302   .0104387    27.64   0.000     .2680551    .3090053
                          y_9 |   .2721735   .0105277    25.85   0.000      .251524    .2928231
                         y_10 |  -.0100582   .0106069    -0.95   0.343    -.0308633    .0107468
                     dummy2_1 |   .0902233    .064151     1.41   0.160    -.0356061    .2160527
                     dummy2_2 |   .1089139   .0726072     1.50   0.134    -.0335019    .2513297
                     dummy2_3 |   .0913833    .064204     1.42   0.155    -.0345501    .2173167
                     dummy2_4 |   .0912772   .0650907     1.40   0.161    -.0363954    .2189499
                     dummy2_5 |   .0880074   .0640131     1.37   0.169    -.0375514    .2135663
                     dummy2_6 |   .0904893   .0641029     1.41   0.158    -.0352456    .2162242
                     dummy2_7 |   .1405537   .0900419     1.56   0.119    -.0360595    .3171669
                     dummy2_8 |   .0952025   .0657226     1.45   0.148    -.0337096    .2241145
                     dummy2_9 |   .0908737    .064497     1.41   0.159    -.0356344    .2173819
                    dummy2_10 |   .0909023   .0643473     1.41   0.158    -.0353122    .2171168
                    dummy2_11 |   .0899767   .0643403     1.40   0.162     -.036224    .2161773
                    dummy2_12 |   .0924121   .0666994     1.39   0.166    -.0384159    .2232401
                    dummy2_13 |   .1400191   .1073498     1.30   0.192    -.0705429    .3505811
                    dummy2_14 |   .0913945   .0658738     1.39   0.166     -.037814     .220603
                    dummy2_15 |   .0914906   .0645289     1.42   0.156    -.0350801    .2180612
                    dummy2_16 |   .0925751   .0644319     1.44   0.151    -.0338052    .2189554
                    dummy2_17 |   .0886713   .0640394     1.38   0.166    -.0369391    .2142817
                    dummy2_18 |   .0934575   .0645796     1.45   0.148    -.0332126    .2201275
                    dummy2_19 |   .0894975   .0640567     1.40   0.163     -.036147    .2151419
                    dummy2_20 |   .0927024   .0642356     1.44   0.149     -.033293    .2186978
                    dummy2_21 |   .0913729   .0641093     1.43   0.154    -.0343747    .2171205
                    dummy2_22 |   .0944736   .0646038     1.46   0.144    -.0322439    .2211912
                    dummy2_23 |   1.439739   .0455604    31.60   0.000     1.350374    1.529104
                    dummy2_24 |   1.497037   .0848436    17.64   0.000      1.33062    1.663454
                    dummy2_25 |   1.442827    .045995    31.37   0.000      1.35261    1.533044
                    dummy2_26 |   1.443587   .0476248    30.31   0.000     1.350173    1.537001
                    dummy2_27 |   1.441582   .0458477    31.44   0.000     1.351654     1.53151
                    dummy2_28 |   1.475354   .0489917    30.11   0.000     1.379259    1.571449
                    dummy2_29 |   1.370629   .0774152    17.70   0.000     1.218783    1.522476
                    dummy2_30 |   1.445267   .0497621    29.04   0.000     1.347661    1.542874
                    dummy2_31 |   1.427945   .0490813    29.09   0.000     1.331674    1.524216
                    dummy2_32 |   1.440521   .0455787    31.61   0.000      1.35112    1.529921
                    dummy2_33 |   1.441637    .046442    31.04   0.000     1.350543    1.532731
                    dummy2_34 |   1.443229   .0467078    30.90   0.000     1.351614    1.534844
                    dummy2_35 |   1.433369   .0532351    26.93   0.000      1.32895    1.537787
                    dummy2_36 |   1.470499   .0504571    29.14   0.000     1.371529    1.569468
                    dummy2_37 |   1.443256   .0464841    31.05   0.000     1.352079    1.534432
                    dummy2_38 |   1.446255   .0465266    31.08   0.000     1.354995    1.537515
                    dummy2_39 |   1.438997   .0454779    31.64   0.000     1.349794      1.5282
                    dummy2_40 |   1.439728   .0455124    31.63   0.000     1.350458    1.528999
                    dummy2_41 |   1.437969   .0453256    31.73   0.000     1.349065    1.526873
                    dummy2_42 |   1.440731   .0454171    31.72   0.000     1.351648    1.529815
                    dummy2_43 |   1.434421   .0466517    30.75   0.000     1.342916    1.525926
                    dummy2_44 |   1.440699   .0455366    31.64   0.000     1.351381    1.530017
                    dummy2_45 |   1.051431   .0810363    12.97   0.000     .8924816     1.21038
                    dummy2_47 |   1.052569   .0810977    12.98   0.000     .8934993    1.211638
                    dummy2_48 |   1.089119    .070824    15.38   0.000      .950201    1.228037
                    dummy2_50 |   1.088131   .0694034    15.68   0.000     .9519996    1.224263
                    dummy2_51 |   1.082976   .1128748     9.59   0.000      .861577    1.304375
                    dummy2_52 |   1.053995   .0818125    12.88   0.000     .8935232    1.214467
                    dummy2_53 |   1.051199     .08111    12.96   0.000     .8921052    1.210293
                    dummy2_54 |   1.051231   .0810289    12.97   0.000     .8922966    1.210166
                    dummy2_55 |   1.051213   .0810786    12.97   0.000      .892181    1.210245
                    dummy2_56 |   1.052049    .081471    12.91   0.000     .8922477    1.211851
                    dummy2_57 |   1.090346   .0703571    15.50   0.000     .9523438    1.228349
                    dummy2_58 |   1.089483   .0704393    15.47   0.000     .9513199    1.227647
                    dummy2_59 |   1.051821   .0812687    12.94   0.000     .8924162    1.211226
                    dummy2_60 |   1.054725   .0813553    12.96   0.000     .8951503      1.2143
                    dummy2_61 |   1.049852   .0810076    12.96   0.000     .8909591    1.208745
                    dummy2_62 |   1.050379   .0810059    12.97   0.000     .8914897    1.209269
                    dummy2_63 |   1.050199   .0809904    12.97   0.000     .8913398    1.209058
                    dummy2_64 |   1.052246   .0809894    12.99   0.000     .8933893    1.211104
                    dummy2_65 |   1.051333   .0809669    12.98   0.000     .8925194    1.210146
                    dummy2_66 |   1.087639   .0693153    15.69   0.000     .9516799    1.223598
                    dummy2_67 |   .6556886    .047589    13.78   0.000     .5623448    .7490324
                    dummy2_68 |   .6921293   .0715923     9.67   0.000     .5517042    .8325544
                    dummy2_69 |   .6569871   .0475578    13.81   0.000     .5637046    .7502696
                    dummy2_70 |   .6570047   .0515027    12.76   0.000     .5559844     .758025
                    dummy2_71 |   .6544945   .0474474    13.79   0.000     .5614285    .7475606
                    dummy2_72 |   .6551208   .0473681    13.83   0.000     .5622103    .7480313
                    dummy2_73 |   .7321124   .0734015     9.97   0.000     .5881386    .8760863
                    dummy2_74 |   .6577148   .0478598    13.74   0.000       .56384    .7515897
                    dummy2_75 |   .6546953    .047434    13.80   0.000     .5616556    .7477349
                    dummy2_76 |   .6548705   .0473586    13.83   0.000     .5619787    .7477622
                    dummy2_77 |   .6546658   .0474436    13.80   0.000     .5616072    .7477244
                    dummy2_78 |   .6546846   .0473997    13.81   0.000     .5617122    .7476571
                    dummy2_79 |   .6564797   .0480019    13.68   0.000     .5623261    .7506333
                    dummy2_80 |    .655386   .0477018    13.74   0.000      .561821    .7489511
                    dummy2_81 |   .6552523    .047674    13.74   0.000     .5617419    .7487627
                    dummy2_82 |   .6584932   .0478499    13.76   0.000     .5646377    .7523486
                    dummy2_83 |   .6538343   .0473644    13.80   0.000     .5609311    .7467376
                    dummy2_84 |   .6554544   .0474186    13.82   0.000     .5624449    .7484638
                    dummy2_85 |   .6544004   .0473424    13.82   0.000     .5615404    .7472605
                    dummy2_86 |   .6557634   .0473415    13.85   0.000      .562905    .7486218
                    dummy2_87 |   .6563656   .0473438    13.86   0.000     .5635029    .7492283
                    dummy2_88 |   .6543215   .0473007    13.83   0.000     .5615432    .7470998
                    dummy2_89 |   1.263864    .046882    26.96   0.000     1.171907    1.355821
                    dummy2_90 |   1.385281   .1602274     8.65   0.000     1.071002     1.69956
                    dummy2_91 |   1.226794   .0649028    18.90   0.000      1.09949    1.354098
                    dummy2_92 |   1.229294   .0674035    18.24   0.000     1.097085    1.361503
                    dummy2_93 |   1.226942   .0652297    18.81   0.000     1.098997    1.354887
                    dummy2_94 |   1.225863   .0654242    18.74   0.000     1.097537     1.35419
                    dummy2_95 |    1.26445   .1093855    11.56   0.000     1.049895    1.479005
                    dummy2_96 |   1.229474   .0671312    18.31   0.000     1.097799    1.361149
                    dummy2_97 |   1.226759   .0671847    18.26   0.000     1.094979    1.358538
                    dummy2_98 |   1.224539   .0648186    18.89   0.000     1.097401    1.351678
                    dummy2_99 |   1.226608   .0666438    18.41   0.000      1.09589    1.357327
                   dummy2_100 |    1.23446   .0812999    15.18   0.000     1.074994    1.393926
                   dummy2_101 |   1.229603   .0721631    17.04   0.000     1.088058    1.371147
                   dummy2_102 |   1.225477   .0674417    18.17   0.000     1.093193    1.357761
                   dummy2_103 |   1.229765   .0665464    18.48   0.000     1.099237    1.360292
                   dummy2_104 |   1.239989   .0554142    22.38   0.000     1.131296    1.348682
                   dummy2_105 |   1.264885   .0469182    26.96   0.000     1.172857    1.356914
                   dummy2_106 |   1.267946   .0470982    26.92   0.000     1.175565    1.360327
                   dummy2_109 |   1.252448   .0485511    25.80   0.000     1.157217    1.347679
                   dummy2_111 |   1.126794    .044357    25.40   0.000     1.039789    1.213798
                   dummy2_112 |   1.150982   .0595828    19.32   0.000     1.034113    1.267851
                   dummy2_113 |   1.127976   .0445101    25.34   0.000     1.040672    1.215281
                   dummy2_114 |   1.125677   .0442629    25.43   0.000     1.038857    1.212497
                   dummy2_115 |   1.126515   .0443406    25.41   0.000     1.039543    1.213487
                   dummy2_116 |   1.126363   .0441944    25.49   0.000     1.039678    1.213048
                   dummy2_117 |   1.188816   .0676544    17.57   0.000     1.056115    1.321517
                   dummy2_118 |   1.128783   .0455051    24.81   0.000     1.039527    1.218039
                   dummy2_119 |   1.125652   .0441604    25.49   0.000     1.039034    1.212271
                   dummy2_120 |    1.12603   .0441123    25.53   0.000     1.039505    1.212554
                   dummy2_121 |   1.126299   .0442818    25.43   0.000     1.039442    1.213156
                   dummy2_122 |   1.126024   .0442246    25.46   0.000     1.039279    1.212769
                   dummy2_123 |   1.128403   .0451147    25.01   0.000     1.039912    1.216893
                   dummy2_124 |   1.128285   .0465047    24.26   0.000     1.037068    1.219502
                   dummy2_125 |   1.126559   .0442506    25.46   0.000     1.039764    1.213355
                   dummy2_126 |   1.128044   .0446324    25.27   0.000       1.0405    1.215588
                   dummy2_127 |   1.124094   .0440514    25.52   0.000     1.037689    1.210499
                   dummy2_128 |   1.125566   .0441625    25.49   0.000     1.038943    1.212189
                   dummy2_129 |   1.124426    .044031    25.54   0.000     1.038061    1.210791
                   dummy2_130 |   1.126929   .0441356    25.53   0.000     1.040359    1.213499
                   dummy2_131 |    1.12477   .0439911    25.57   0.000     1.038483    1.211056
                   dummy2_132 |   1.124939   .0439951    25.57   0.000     1.038645    1.211233
                   dummy2_133 |   .6004132   .0538332    11.15   0.000     .4948217    .7060048
                   dummy2_134 |   .6635904   .0978928     6.78   0.000      .471578    .8556028
                   dummy2_135 |   .5765019   .0733045     7.86   0.000     .4327184    .7202853
                   dummy2_136 |   .6054159   .0475463    12.73   0.000     .5121559    .6986759
                   dummy2_137 |   .6188336   .0446989    13.84   0.000     .5311587    .7065085
                   dummy2_138 |   .5962638   .0552422    10.79   0.000     .4879086     .704619
                   dummy2_140 |   .5957837   .0564883    10.55   0.000     .4849844    .7065831
                   dummy2_141 |   .6085547   .0473353    12.86   0.000     .5157085    .7014009
                   dummy2_142 |   .6113581   .0461542    13.25   0.000     .5208288    .7018875
                   dummy2_143 |   .5827477   .0663278     8.79   0.000     .4526486    .7128469
                   dummy2_144 |    .591558   .0604733     9.78   0.000     .4729423    .7101738
                   dummy2_145 |   .5625003   .0907044     6.20   0.000     .3845876     .740413
                   dummy2_146 |   .5867645   .0629904     9.32   0.000     .4632117    .7103173
                   dummy2_147 |   .6139831   .0456703    13.44   0.000     .5244028    .7035634
                   dummy2_148 |    .588584   .0634164     9.28   0.000     .4641955    .7129724
                   dummy2_149 |   .5116877   .1459866     3.51   0.000     .2253413    .7980341
                   dummy2_150 |   .5769735    .073354     7.87   0.000     .4330929    .7208541
                   dummy2_151 |   .5538653   .0967785     5.72   0.000     .3640386     .743692
                   dummy2_152 |   .5895239   .0610438     9.66   0.000     .4697891    .7092586
                   dummy2_153 |   .5321115   .1229961     4.33   0.000     .2908601    .7733629
                   dummy2_154 |   .5073254   .1539599     3.30   0.001     .2053399    .8093109
                   dummy2_155 |    .352386   .0500495     7.04   0.000      .254216    .4505559
                   dummy2_157 |   .3525249   .0501713     7.03   0.000      .254116    .4509337
                   dummy2_158 |   .3564513   .0633459     5.63   0.000      .232201    .4807015
                   dummy2_159 |   .3553981   .0514018     6.91   0.000     .2545758    .4562204
                   dummy2_160 |   .3521073   .0499095     7.05   0.000     .2542119    .4500027
                   dummy2_161 |   .3556531   .0670518     5.30   0.000     .2241339    .4871723
                   dummy2_162 |   .3547222   .0515197     6.89   0.000     .2536686    .4557759
                   dummy2_163 |   .3532085   .0516333     6.84   0.000     .2519322    .4544849
                   dummy2_164 |   .3529531   .0500399     7.05   0.000     .2548021    .4511042
                   dummy2_165 |    .352373   .0504989     6.98   0.000     .2533217    .4514243
                   dummy2_166 |    .358851    .053341     6.73   0.000     .2542249    .4634771
                   dummy2_167 |   .3691844    .081753     4.52   0.000     .2088295    .5295393
                   dummy2_168 |   .3565017   .0576246     6.19   0.000     .2434737    .4695298
                   dummy2_169 |   .3519776   .0500323     7.04   0.000     .2538414    .4501138
                   dummy2_170 |   .3549547   .0503957     7.04   0.000     .2561058    .4538036
                   dummy2_171 |   .3503539   .0497782     7.04   0.000     .2527162    .4479916
                   dummy2_172 |   .3515036   .0498051     7.06   0.000     .2538131    .4491942
                   dummy2_173 |   .3506417   .0497522     7.05   0.000      .253055    .4482285
                   dummy2_174 |   .3780307   .0550626     6.87   0.000     .2700279    .4860335
                   dummy2_175 |   .3518852   .0497489     7.07   0.000     .2543049    .4494656
                   dummy2_176 |   .3519776   .0497532     7.07   0.000     .2543888    .4495664
                   dummy2_177 |   1.046581   .0779534    13.43   0.000     .8936786    1.199483
                   dummy2_178 |   1.081397   .1034769    10.45   0.000      .878432    1.284363
                   dummy2_179 |   1.047463   .0780058    13.43   0.000     .8944585    1.200468
                   dummy2_180 |   1.047308   .0782496    13.38   0.000     .8938248    1.200791
                   dummy2_181 |   1.046282   .0779941    13.41   0.000     .8933004    1.199265
                   dummy2_182 |   1.046051    .077911    13.43   0.000     .8932318     1.19887
                   dummy2_183 |   1.062028   .0870125    12.21   0.000     .8913573      1.2327
                   dummy2_184 |   1.049922   .0787086    13.34   0.000     .8955384    1.204305
                   dummy2_185 |   1.046028   .0780465    13.40   0.000     .8929431    1.199113
                   dummy2_186 |   1.045784   .0778842    13.43   0.000     .8930172     1.19855
                   dummy2_187 |   1.046028   .0779671    13.42   0.000     .8930993    1.198957
                   dummy2_188 |   1.047113    .078651    13.31   0.000      .892842    1.201383
                   dummy2_189 |   1.049677   .0800417    13.11   0.000     .8926789    1.206676
                   dummy2_190 |   1.048608   .0796263    13.17   0.000     .8924243    1.204791
                   dummy2_191 |   1.046977   .0779842    13.43   0.000     .8940145     1.19994
                   dummy2_192 |   1.048525   .0782971    13.39   0.000     .8949485    1.202101
                   dummy2_193 |   1.045125   .0779227    13.41   0.000      .892283    1.197967
                   dummy2_194 |   1.044709   .0779105    13.41   0.000     .8918906    1.197527
                   dummy2_197 |   1.045874   .0778819    13.43   0.000     .8931121    1.198636
                   dummy2_198 |   1.046379   .0778893    13.43   0.000     .8936025    1.199155
                   dummy2_199 |   .5247719   .0447778    11.72   0.000     .4369422    .6126017
                   dummy2_200 |   .5604701   .0730471     7.67   0.000     .4171914    .7037488
                   dummy2_201 |   .5260625   .0449763    11.70   0.000     .4378434    .6142816
                   dummy2_202 |   .5297724   .0587221     9.02   0.000     .4145916    .6449532
                   dummy2_203 |   .5244098   .0447258    11.72   0.000     .4366821    .6121375
                   dummy2_204 |   .5242726   .0446563    11.74   0.000     .4366813    .6118639
                   dummy2_205 |    .553069   .0679593     8.14   0.000     .4197699    .6863681
                   dummy2_206 |   .5269015   .0453958    11.61   0.000     .4378596    .6159435
                   dummy2_207 |   .5259217   .0456007    11.53   0.000     .4364779    .6153655
                   dummy2_208 |   .5257908   .0449806    11.69   0.000     .4375633    .6140183
                   dummy2_209 |   .5250931   .0449824    11.67   0.000      .436862    .6133241
                   dummy2_210 |   .5255766   .0451918    11.63   0.000     .4369349    .6142183
                   dummy2_211 |    .525124   .0539153     9.74   0.000     .4193715    .6308765
                   dummy2_212 |   .5261629   .0454566    11.58   0.000     .4370017    .6153241
                   dummy2_213 |   .5270509   .0454501    11.60   0.000     .4379025    .6161994
                   dummy2_214 |   .5275328   .0451995    11.67   0.000      .438876    .6161896
                   dummy2_215 |   .5237316   .0447029    11.72   0.000     .4360488    .6114144
                   dummy2_216 |   .5247229   .0447096    11.74   0.000     .4370269    .6124188
                   dummy2_217 |     .52328   .0446749    11.71   0.000     .4356521    .6109079
                   dummy2_218 |   .5271425   .0447293    11.79   0.000     .4394079    .6148771
                   dummy2_219 |   .5245069   .0446466    11.75   0.000     .4369346    .6120792
                   dummy2_220 |   .5242067   .0446348    11.74   0.000     .4366575    .6117558
                   dummy2_221 |   .0850654    .044831     1.90   0.058    -.0028686    .1729994
                   dummy2_222 |    .096921   .0546381     1.77   0.076    -.0102491    .2040912
                   dummy2_223 |   .0847904   .0447075     1.90   0.058    -.0029014    .1724822
                   dummy2_224 |   .0854666   .0469262     1.82   0.069    -.0065771    .1775102
                   dummy2_225 |   .0844553   .0450307     1.88   0.061    -.0038704    .1727809
                   dummy2_226 |   .0841636   .0445687     1.89   0.059    -.0032559    .1715832
                   dummy2_227 |   .1125977   .0641106     1.76   0.079    -.0131525    .2383479
                   dummy2_228 |   .0875758   .0456049     1.92   0.055    -.0018762    .1770278
                   dummy2_229 |   .0845231   .0447333     1.89   0.059    -.0032193    .1722656
                   dummy2_230 |   .0844016    .044588     1.89   0.059    -.0030558     .171859
                   dummy2_231 |   .0846496   .0448197     1.89   0.059    -.0032622    .1725615
                   dummy2_232 |   .0851751   .0452188     1.88   0.060    -.0035196    .1738699
                   dummy2_233 |   .0878067   .0477433     1.84   0.066    -.0058396    .1814531
                   dummy2_234 |   .0865017    .046802     1.85   0.065    -.0052984    .1783017
                   dummy2_235 |    .084747   .0450343     1.88   0.060    -.0035859    .1730798
                   dummy2_236 |   .0868185   .0450788     1.93   0.054    -.0016015    .1752385
                   dummy2_237 |   .0833241   .0445697     1.87   0.062    -.0040974    .1707456
                   dummy2_238 |   .0835341   .0445584     1.87   0.061    -.0038651    .1709334
                   dummy2_239 |   .0833445   .0445376     1.87   0.061    -.0040141    .1707031
                   dummy2_240 |   .0860175   .0445727     1.93   0.054    -.0014098    .1734449
                   dummy2_241 |   .0852138    .044523     1.91   0.056     -.002116    .1725437
                   dummy2_242 |   .0849731    .044524     1.91   0.057    -.0023588     .172305
                   dummy2_243 |  -.0013236   .0434303    -0.03   0.976    -.0865103    .0838631
                   dummy2_244 |   .0187769   .0544568     0.34   0.730    -.0880378    .1255916
                   dummy2_245 |  -.0004359   .0434093    -0.01   0.992    -.0855813    .0847096
                   dummy2_246 |   .0002861   .0447054     0.01   0.995    -.0874016    .0879738
                   dummy2_247 |  -.0007355   .0434663    -0.02   0.987    -.0859927    .0845217
                   dummy2_248 |  -.0006726   .0433949    -0.02   0.988    -.0857897    .0844446
                   dummy2_249 |  -.0114152   .0710882    -0.16   0.872    -.1508515    .1280212
                   dummy2_250 |   .0012821   .0436179     0.03   0.977    -.0842725    .0868366
                   dummy2_251 |  -.0007292   .0434274    -0.02   0.987    -.0859101    .0844516
                   dummy2_252 |  -.0006324   .0434163    -0.01   0.988    -.0857916    .0845267
                   dummy2_253 |  -.0006715   .0434493    -0.02   0.988    -.0858954    .0845525
                   dummy2_254 |  -.0004075   .0434888    -0.01   0.993    -.0857089    .0848939
                   dummy2_255 |   -.003455   .0450287    -0.08   0.939    -.0917769    .0848669
                   dummy2_256 |   .0004206   .0438461     0.01   0.992    -.0855816    .0864228
                   dummy2_257 |  -.0002195   .0438208    -0.01   0.996    -.0861721     .085733
                   dummy2_258 |   .0023882   .0440502     0.05   0.957    -.0840144    .0887907
                   dummy2_259 |  -.0014645   .0434372    -0.03   0.973    -.0866647    .0837356
                   dummy2_260 |  -.0002688   .0434259    -0.01   0.995    -.0854469    .0849093
                   dummy2_261 |  -.0010565   .0434091    -0.02   0.981    -.0862014    .0840885
                   dummy2_262 |   .0001462   .0434618     0.00   0.997    -.0851023    .0853946
                   dummy2_263 |   .0001945   .0434058     0.00   0.996    -.0849441    .0853331
                              |
                       per108 |
                          L1. |  -.0072972   .0029937    -2.44   0.015    -.0131692   -.0014251
                              |
                       per403 |
                          L1. |  -.0577677   .0032441   -17.81   0.000    -.0641309   -.0514045
                              |
                       per404 |
                          L1. |  -.0351933   .0070665    -4.98   0.000    -.0490539   -.0213327
                              |
                       per505 |
                          L1. |   .2404586   .0074019    32.49   0.000     .2259402     .254977
                              |
                        _cons |   .7402032   .0322023    22.99   0.000     .6770397    .8033667
-----------------------------------------------------------------------------------------------
Included instruments: labourproductivityleaderklems L.tecnogapklemsLP ind_trend
                      L.tradelib y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10 dummy2_1
                      dummy2_2 dummy2_3 dummy2_4 dummy2_5 dummy2_6 dummy2_7
                      dummy2_8 dummy2_9 dummy2_10 dummy2_11 dummy2_12 dummy2_13
                      dummy2_14 dummy2_15 dummy2_16 dummy2_17 dummy2_18
                      dummy2_19 dummy2_20 dummy2_21 dummy2_22 dummy2_23
                      dummy2_24 dummy2_25 dummy2_26 dummy2_27 dummy2_28
                      dummy2_29 dummy2_30 dummy2_31 dummy2_32 dummy2_33
                      dummy2_34 dummy2_35 dummy2_36 dummy2_37 dummy2_38
                      dummy2_39 dummy2_40 dummy2_41 dummy2_42 dummy2_43
                      dummy2_44 dummy2_45 dummy2_47 dummy2_48 dummy2_50
                      dummy2_51 dummy2_52 dummy2_53 dummy2_54 dummy2_55
                      dummy2_56 dummy2_57 dummy2_58 dummy2_59 dummy2_60
                      dummy2_61 dummy2_62 dummy2_63 dummy2_64 dummy2_65
                      dummy2_66 dummy2_67 dummy2_68 dummy2_69 dummy2_70
                      dummy2_71 dummy2_72 dummy2_73 dummy2_74 dummy2_75
                      dummy2_76 dummy2_77 dummy2_78 dummy2_79 dummy2_80
                      dummy2_81 dummy2_82 dummy2_83 dummy2_84 dummy2_85
                      dummy2_86 dummy2_87 dummy2_88 dummy2_89 dummy2_90
                      dummy2_91 dummy2_92 dummy2_93 dummy2_94 dummy2_95
                      dummy2_96 dummy2_97 dummy2_98 dummy2_99 dummy2_100
                      dummy2_101 dummy2_102 dummy2_103 dummy2_104 dummy2_105
                      dummy2_106 dummy2_109 dummy2_111 dummy2_112 dummy2_113
                      dummy2_114 dummy2_115 dummy2_116 dummy2_117 dummy2_118
                      dummy2_119 dummy2_120 dummy2_121 dummy2_122 dummy2_123
                      dummy2_124 dummy2_125 dummy2_126 dummy2_127 dummy2_128
                      dummy2_129 dummy2_130 dummy2_131 dummy2_132 dummy2_133
                      dummy2_134 dummy2_135 dummy2_136 dummy2_137 dummy2_138
                      dummy2_140 dummy2_141 dummy2_142 dummy2_143 dummy2_144
                      dummy2_145 dummy2_146 dummy2_147 dummy2_148 dummy2_149
                      dummy2_150 dummy2_151 dummy2_152 dummy2_153 dummy2_154
                      dummy2_155 dummy2_157 dummy2_158 dummy2_159 dummy2_160
                      dummy2_161 dummy2_162 dummy2_163 dummy2_164 dummy2_165
                      dummy2_166 dummy2_167 dummy2_168 dummy2_169 dummy2_170
                      dummy2_171 dummy2_172 dummy2_173 dummy2_174 dummy2_175
                      dummy2_176 dummy2_177 dummy2_178 dummy2_179 dummy2_180
                      dummy2_181 dummy2_182 dummy2_183 dummy2_184 dummy2_185
                      dummy2_186 dummy2_187 dummy2_188 dummy2_189 dummy2_190
                      dummy2_191 dummy2_192 dummy2_193 dummy2_194 dummy2_197
                      dummy2_198 dummy2_199 dummy2_200 dummy2_201 dummy2_202
                      dummy2_203 dummy2_204 dummy2_205 dummy2_206 dummy2_207
                      dummy2_208 dummy2_209 dummy2_210 dummy2_211 dummy2_212
                      dummy2_213 dummy2_214 dummy2_215 dummy2_216 dummy2_217
                      dummy2_218 dummy2_219 dummy2_220 dummy2_221 dummy2_222
                      dummy2_223 dummy2_224 dummy2_225 dummy2_226 dummy2_227
                      dummy2_228 dummy2_229 dummy2_230 dummy2_231 dummy2_232
                      dummy2_233 dummy2_234 dummy2_235 dummy2_236 dummy2_237
                      dummy2_238 dummy2_239 dummy2_240 dummy2_241 dummy2_242
                      dummy2_243 dummy2_244 dummy2_245 dummy2_246 dummy2_247
                      dummy2_248 dummy2_249 dummy2_250 dummy2_251 dummy2_252
                      dummy2_253 dummy2_254 dummy2_255 dummy2_256 dummy2_257
                      dummy2_258 dummy2_259 dummy2_260 dummy2_261 dummy2_262
                      dummy2_263 L.per108 L.per403 L.per404 L.per505
------------------------------------------------------------------------------
F test of excluded instruments:
  F(  4,  1591) =   273.24
  Prob > F      =   0.0000
Angrist-Pischke multivariate F test of excluded instruments:
  F(  3,  1591) =   325.56
  Prob > F      =   0.0000



Summary results for first-stage regressions
-------------------------------------------

                                           (Underid)            (Weak id)
Variable     | F(  4,  1591)  P-val | AP Chi-sq(  3) P-val | AP F(  3,  1591)
L.compindex  |      55.86    0.0000 |      233.81   0.0000 |       66.56
L.pmr        |     273.24    0.0000 |     1143.64   0.0000 |      325.56

Stock-Yogo weak ID test critical values for single endogenous regressor:
                                    5% maximal IV relative bias    16.85
                                   10% maximal IV relative bias     9.08
                                   20% maximal IV relative bias     6.46
                                   30% maximal IV relative bias     5.39
                                   10% maximal IV size             22.30
                                   15% maximal IV size             12.83
                                   20% maximal IV size              9.54
                                   25% maximal IV size              7.80
Source: Stock-Yogo (2005).  Reproduced by permission.

Underidentification test
Ho: matrix of reduced form coefficients has rank=K1-1 (underidentified)
Ha: matrix has rank=K1 (identified)
Anderson canon. corr. LM statistic       Chi-sq(3)=213.58   P-val=0.0000

Weak identification test
Ho: equation is weakly identified
Cragg-Donald Wald F statistic                                      51.50

Stock-Yogo weak ID test critical values for K1=2 and L1=4:
                                    5% maximal IV relative bias    11.04
                                   10% maximal IV relative bias     7.56
                                   20% maximal IV relative bias     5.57
                                   30% maximal IV relative bias     4.73
                                   10% maximal IV size             16.87
                                   15% maximal IV size              9.93
                                   20% maximal IV size              7.54
                                   25% maximal IV size              6.28
Source: Stock-Yogo (2005).  Reproduced by permission.

Weak-instrument-robust inference
Tests of joint significance of endogenous regressors B1 in main equation
Ho: B1=0 and orthogonality conditions are valid
Anderson-Rubin Wald test           F(4,1591)=      3.14     P-val=0.0139
Anderson-Rubin Wald test           Chi-sq(4)=     14.70     P-val=0.0054
Stock-Wright LM S statistic        Chi-sq(4)=     14.58     P-val=0.0056

Number of observations               N  =       1863
Number of regressors                 K  =        270
Number of endogenous regressors      K1 =          2
Number of instruments                L  =        272
Number of excluded instruments       L1 =          4

IV (2SLS) estimation
--------------------

Estimates efficient for homoskedasticity only
Statistics consistent for homoskedasticity only

                                                      Number of obs =     1863
                                                      F(269,  1593) =     2.19
                                                      Prob > F      =   0.0000
Total (centered) SS     =  9.823205819                Centered R2   =   0.2604
Total (uncentered) SS   =  11.48455834                Uncentered R2 =   0.3674
Residual SS             =  7.265065414                Root MSE      =   .06245

-----------------------------------------------------------------------------------------------
                     LPgrowth |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
------------------------------+----------------------------------------------------------------
                    compindex |
                          L1. |   .2728653   .1078646     2.53   0.011     .0614545    .4842761
                              |
                          pmr |
                          L1. |  -.0467647   .0206002    -2.27   0.023    -.0871404    -.006389
                              |
labourproductivityleaderklems |  -.3431133   .2096306    -1.64   0.102    -.7539817     .067755
                              |
              tecnogapklemsLP |
                          L1. |   .0102554   .0012868     7.97   0.000     .0077333    .0127776
                              |
                    ind_trend |   .0681242   .0250593     2.72   0.007     .0190088    .1172395
                              |
                     tradelib |
                          L1. |   .0222401   .0038402     5.79   0.000     .0147135    .0297668
                              |
                          y_2 |   .0450008   .0189296     2.38   0.017     .0078995    .0821022
                          y_3 |   .0381596   .0175169     2.18   0.029      .003827    .0724921
                          y_4 |   .0255518   .0177508     1.44   0.150    -.0092391    .0603428
                          y_5 |   .0519939   .0176412     2.95   0.003     .0174178      .08657
                          y_6 |   .0504439   .0134696     3.75   0.000     .0240441    .0768438
                          y_7 |   .0138187   .0113658     1.22   0.224     -.008458    .0360953
                          y_8 |   .0137073   .0103347     1.33   0.185    -.0065483    .0339629
                          y_9 |   .0147615   .0095842     1.54   0.124    -.0040231    .0335461
                         y_10 |   .0116209   .0069335     1.68   0.094    -.0019684    .0252103
                     dummy2_1 |   .0190502      .0416     0.46   0.647    -.0624844    .1005847
                     dummy2_2 |  -.0415465   .0468831    -0.89   0.376    -.1334357    .0503428
                     dummy2_3 |   -.003951   .0416139    -0.09   0.924    -.0855128    .0776107
                     dummy2_4 |  -.0498305   .0421501    -1.18   0.237    -.1324432    .0327823
                     dummy2_5 |   .0144931   .0415142     0.35   0.727    -.0668732    .0958593
                     dummy2_6 |  -.0003897   .0415575    -0.01   0.993     -.081841    .0810616
                     dummy2_7 |  -.2403547   .0580699    -4.14   0.000    -.3541696   -.1265397
                     dummy2_8 |  -.0015083   .0425187    -0.04   0.972    -.0848434    .0818267
                     dummy2_9 |  -.0180567   .0417867    -0.43   0.666    -.0999572    .0638438
                    dummy2_10 |  -.0014193   .0416957    -0.03   0.973    -.0831415    .0803028
                    dummy2_11 |  -.0002977   .0416912    -0.01   0.994     -.082011    .0814156
                    dummy2_12 |  -.0232477   .0431406    -0.54   0.590    -.1078016    .0613063
                    dummy2_13 |   .0522657   .0692121     0.76   0.450    -.0833874    .1879189
                    dummy2_14 |  -.0305845   .0426212    -0.72   0.473    -.1141205    .0529516
                    dummy2_15 |  -.0098751   .0418109    -0.24   0.813    -.0918228    .0720727
                    dummy2_16 |  -.0052488    .041741    -0.13   0.900    -.0870597     .076562
                    dummy2_17 |   .0094373     .04154     0.23   0.820    -.0719796    .0908542
                    dummy2_18 |  -.0335772    .041883    -0.80   0.423    -.1156663     .048512
                    dummy2_19 |   .0156033    .041548     0.38   0.707    -.0658293    .0970359
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                   dummy2_253 |   .0310173   .0279724     1.11   0.267    -.0238076    .0858422
                   dummy2_254 |   .0381348   .0279979     1.36   0.173    -.0167401    .0930098
                   dummy2_255 |   .1236373   .0289884     4.27   0.000      .066821    .1804535
                   dummy2_256 |   .0331825   .0282292     1.18   0.240    -.0221458    .0885107
                   dummy2_257 |   .0261509   .0282123     0.93   0.354    -.0291441    .0814459
                   dummy2_258 |   .0449534   .0283616     1.59   0.113    -.0106343     .100541
                   dummy2_259 |  -.0192294   .0279648    -0.69   0.492    -.0740394    .0355807
                   dummy2_260 |   .0037698   .0279574     0.13   0.893    -.0510257    .0585652
                   dummy2_261 |   .0162674   .0279466     0.58   0.561    -.0385068    .0710417
                   dummy2_262 |   .0618921   .0279805     2.21   0.027     .0070513    .1167329
                   dummy2_263 |   .0282626   .0279444     1.01   0.312    -.0265073    .0830326
                        _cons |   -.133546   .0687895    -1.94   0.052    -.2683711     .001279
-----------------------------------------------------------------------------------------------
Underidentification test (Anderson canon. corr. LM statistic):         213.575
                                                   Chi-sq(3) P-val =    0.0000
------------------------------------------------------------------------------
Weak identification test (Cragg-Donald Wald F statistic):               51.503
Stock-Yogo weak ID test critical values:  5% maximal IV relative bias    11.04
                                         10% maximal IV relative bias     7.56
                                         20% maximal IV relative bias     5.57
                                         30% maximal IV relative bias     4.73
                                         10% maximal IV size             16.87
                                         15% maximal IV size              9.93
                                         20% maximal IV size              7.54
                                         25% maximal IV size              6.28
Source: Stock-Yogo (2005).  Reproduced by permission.
------------------------------------------------------------------------------
Sargan statistic (overidentification test of all instruments):           5.668
                                                   Chi-sq(2) P-val =    0.0588
------------------------------------------------------------------------------
Instrumented:         L.compindex L.pmr
Included instruments: labourproductivityleaderklems L.tecnogapklemsLP ind_trend
                      L.tradelib y_2 y_3 y_4 y_5 y_6 y_7 y_8 y_9 y_10 dummy2_1
                      dummy2_2 dummy2_3 dummy2_4 dummy2_5 dummy2_6 dummy2_7
                      dummy2_8 dummy2_9 dummy2_10 dummy2_11 dummy2_12 dummy2_13
                      dummy2_14 dummy2_15 dummy2_16 dummy2_17 dummy2_18
                      dummy2_19 dummy2_20 dummy2_21 dummy2_22 dummy2_23
                      dummy2_24 dummy2_25 dummy2_26 dummy2_27 dummy2_28
                      dummy2_29 dummy2_30 dummy2_31 dummy2_32 dummy2_33
                      dummy2_34 dummy2_35 dummy2_36 dummy2_37 dummy2_38
                      dummy2_39 dummy2_40 dummy2_41 dummy2_42 dummy2_43
                      dummy2_44 dummy2_45 dummy2_47 dummy2_48 dummy2_50
                      dummy2_51 dummy2_52 dummy2_53 dummy2_54 dummy2_55
                      dummy2_56 dummy2_57 dummy2_58 dummy2_59 dummy2_60
                      dummy2_61 dummy2_62 dummy2_63 dummy2_64 dummy2_65
                      dummy2_66 dummy2_67 dummy2_68 dummy2_69 dummy2_70
                      dummy2_71 dummy2_72 dummy2_73 dummy2_74 dummy2_75
                      dummy2_76 dummy2_77 dummy2_78 dummy2_79 dummy2_80
                      dummy2_81 dummy2_82 dummy2_83 dummy2_84 dummy2_85
                      dummy2_86 dummy2_87 dummy2_88 dummy2_89 dummy2_90
                      dummy2_91 dummy2_92 dummy2_93 dummy2_94 dummy2_95
                      dummy2_96 dummy2_97 dummy2_98 dummy2_99 dummy2_100
                      dummy2_101 dummy2_102 dummy2_103 dummy2_104 dummy2_105
                      dummy2_106 dummy2_109 dummy2_111 dummy2_112 dummy2_113
                      dummy2_114 dummy2_115 dummy2_116 dummy2_117 dummy2_118
                      dummy2_119 dummy2_120 dummy2_121 dummy2_122 dummy2_123
                      dummy2_124 dummy2_125 dummy2_126 dummy2_127 dummy2_128
                      dummy2_129 dummy2_130 dummy2_131 dummy2_132 dummy2_133
                      dummy2_134 dummy2_135 dummy2_136 dummy2_137 dummy2_138
                      dummy2_140 dummy2_141 dummy2_142 dummy2_143 dummy2_144
                      dummy2_145 dummy2_146 dummy2_147 dummy2_148 dummy2_149
                      dummy2_150 dummy2_151 dummy2_152 dummy2_153 dummy2_154
                      dummy2_155 dummy2_157 dummy2_158 dummy2_159 dummy2_160
                      dummy2_161 dummy2_162 dummy2_163 dummy2_164 dummy2_165
                      dummy2_166 dummy2_167 dummy2_168 dummy2_169 dummy2_170
                      dummy2_171 dummy2_172 dummy2_173 dummy2_174 dummy2_175
                      dummy2_176 dummy2_177 dummy2_178 dummy2_179 dummy2_180
                      dummy2_181 dummy2_182 dummy2_183 dummy2_184 dummy2_185
                      dummy2_186 dummy2_187 dummy2_188 dummy2_189 dummy2_190
                      dummy2_191 dummy2_192 dummy2_193 dummy2_194 dummy2_197
                      dummy2_198 dummy2_199 dummy2_200 dummy2_201 dummy2_202
                      dummy2_203 dummy2_204 dummy2_205 dummy2_206 dummy2_207
                      dummy2_208 dummy2_209 dummy2_210 dummy2_211 dummy2_212
                      dummy2_213 dummy2_214 dummy2_215 dummy2_216 dummy2_217
                      dummy2_218 dummy2_219 dummy2_220 dummy2_221 dummy2_222
                      dummy2_223 dummy2_224 dummy2_225 dummy2_226 dummy2_227
                      dummy2_228 dummy2_229 dummy2_230 dummy2_231 dummy2_232
                      dummy2_233 dummy2_234 dummy2_235 dummy2_236 dummy2_237
                      dummy2_238 dummy2_239 dummy2_240 dummy2_241 dummy2_242
                      dummy2_243 dummy2_244 dummy2_245 dummy2_246 dummy2_247
                      dummy2_248 dummy2_249 dummy2_250 dummy2_251 dummy2_252
                      dummy2_253 dummy2_254 dummy2_255 dummy2_256 dummy2_257
                      dummy2_258 dummy2_259 dummy2_260 dummy2_261 dummy2_262
                      dummy2_263
Excluded instruments: L.per108 L.per403 L.per404 L.per505
Dropped collinear:    y_1 y_11 dummy2_46 dummy2_49 dummy2_107 dummy2_108
                      dummy2_110 dummy2_139 dummy2_156 dummy2_195 dummy2_196
                      dummy2_264
------------------------------------------------------------------------------

. *ivendog
. eststo table4_6

. 
. esttab table4_1 table4_2 table4_3 table4_4 table4_5 table4_6 using  "BCDVS_95_4_2013tables.csv", append label  nodepvar st
> ar(* 0.10 ** 0.05 *** 0.01) se  drop(y_* dummy*) compress csv
(output written to BCDVS_95_4_2013tables.csv)

. 
. 
. ******************************************************************************
. *******************   FIRST STAGE regressions (table 5)          *************
. ******************************************************************************
. 
. ** FIRST STAGE (table 5)
. 
. reg compindex tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.pmr l.per108 l.per403 l.per404 l.per505 y_* dummy*
>   if sample4_1==1

      Source |       SS       df       MS              Number of obs =    1847
-------------+------------------------------           F(273,  1573) =   43.42
       Model |  16.9619366   273  .062131636           Prob > F      =  0.0000
    Residual |  2.25076009  1573  .001430871           R-squared     =  0.8829
-------------+------------------------------           Adj R-squared =  0.8625
       Total |  19.2126967  1846  .010407745           Root MSE      =  .03783

------------------------------------------------------------------------------------
         compindex |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |    .010525   .0119225     0.88   0.377    -.0128607    .0339108
                   |
     tecnogapklems |
               L1. |   .0008754   .0025731     0.34   0.734    -.0041716    .0059224
                   |
         ind_trend |  -.0132579   .0152446    -0.87   0.385    -.0431597    .0166439
                   |
          tradelib |
               L1. |  -.0024036   .0023172    -1.04   0.300    -.0069487    .0021415
                   |
               pmr |
               L1. |   .1007964   .0097613    10.33   0.000     .0816498    .1199429
                   |
            per108 |
               L1. |   .0084459   .0011715     7.21   0.000     .0061479    .0107438
                   |
            per403 |
               L1. |   -.007878   .0013883    -5.67   0.000    -.0106012   -.0051549
                   |
            per404 |
               L1. |   .0107338   .0027864     3.85   0.000     .0052683    .0161994
                   |
            per505 |
               L1. |   .0045034   .0037221     1.21   0.226    -.0027973    .0118042
                   |
               y_1 |          0  (omitted)
               y_2 |  -.1154983   .0070655   -16.35   0.000    -.1293571   -.1016395
               y_3 |  -.1218958   .0073126   -16.67   0.000    -.1362393   -.1075522
               y_4 |  -.1234905   .0074368   -16.61   0.000    -.1380776   -.1089033
               y_5 |  -.1318569   .0070669   -18.66   0.000    -.1457184   -.1179954
               y_6 |  -.0855849   .0053899   -15.88   0.000     -.096157   -.0750128
               y_7 |  -.0688995   .0052232   -13.19   0.000    -.0791447   -.0586543
               y_8 |  -.0481421   .0050102    -9.61   0.000    -.0579696   -.0383147
               y_9 |  -.0416347   .0049384    -8.43   0.000    -.0513212   -.0319481
              y_10 |          0  (omitted)
              y_11 |   .0051986   .0041408     1.26   0.209    -.0029235    .0133206
          dummy2_1 |   .2043344   .0633189     3.23   0.001      .080136    .3285328
          dummy2_2 |    .204073   .0633037     3.22   0.001     .0799045    .3282416
          dummy2_3 |   .2066226   .0631413     3.27   0.001     .0827726    .3304725
          dummy2_4 |   .2088485   .0632863     3.30   0.001     .0847141    .3329829
          dummy2_5 |   .2053855   .0631886     3.25   0.001     .0814427    .3293283
          dummy2_6 |   .2056108   .0631773     3.25   0.001     .0816903    .3295314
          dummy2_7 |   .2082877   .0631165     3.30   0.001     .0844864    .3320891
          dummy2_8 |   .2097388    .063291     3.31   0.001     .0855951    .3338824
          dummy2_9 |   .2077146   .0631897     3.29   0.001     .0837698    .3316594
         dummy2_10 |    .206874   .0632247     3.27   0.001     .0828605    .3308875
         dummy2_11 |   .2074106   .0631729     3.28   0.001     .0834987    .3313225
         dummy2_12 |   .2124845   .0634282     3.35   0.001     .0880718    .3368971
         dummy2_13 |   .2238168   .0664672     3.37   0.001     .0934432    .3541905
         dummy2_14 |   .2148546   .0652486     3.29   0.001     .0868712     .342838
         dummy2_15 |   .2075171   .0632119     3.28   0.001     .0835286    .3315056
         dummy2_16 |   .2042147    .063254     3.23   0.001     .0801436    .3282857
         dummy2_17 |   .2047487   .0631832     3.24   0.001     .0808165    .3286809
         dummy2_18 |   .2046251   .0631951     3.24   0.001     .0806696    .3285807
         dummy2_19 |   .2047868   .0631866     3.24   0.001      .080848    .3287256
         dummy2_20 |   .2038963    .063294     3.22   0.001     .0797467    .3280458
         dummy2_21 |   .2040203      .0633     3.22   0.001     .0798591    .3281816
         dummy2_22 |   .2048329   .0631609     3.24   0.001     .0809444    .3287213
         dummy2_23 |  -.0370881   .0612111    -0.61   0.545     -.157152    .0829757
         dummy2_24 |  -.0322614   .0613915    -0.53   0.599    -.1526792    .0881564
         dummy2_25 |   -.035445   .0611131    -0.58   0.562    -.1553166    .0844266
         dummy2_26 |  -.0333747   .0613598    -0.54   0.587    -.1537304    .0869809
         dummy2_27 |  -.0364796   .0612323    -0.60   0.551    -.1565851    .0836259
         dummy2_28 |  -.0322506   .0613423    -0.53   0.599    -.1525719    .0880707
         dummy2_29 |  -.0278854   .0630661    -0.44   0.658     -.151588    .0958171
         dummy2_30 |  -.0296224   .0614572    -0.48   0.630    -.1501691    .0909242
         dummy2_31 |  -.0290631   .0614761    -0.47   0.636    -.1496468    .0915206
         dummy2_32 |  -.0364975   .0612271    -0.60   0.551    -.1565928    .0835977
         dummy2_33 |  -.0338564   .0611431    -0.55   0.580     -.153787    .0860743
         dummy2_34 |  -.0342172   .0612144    -0.56   0.576    -.1542876    .0858533
         dummy2_35 |  -.0268374   .0619174    -0.43   0.665    -.1482866    .0946119
         dummy2_36 |  -.0355351   .0619106    -0.57   0.566    -.1569711    .0859009
         dummy2_37 |  -.0353162   .0612699    -0.58   0.564    -.1554956    .0848631
         dummy2_38 |  -.0371851   .0614575    -0.61   0.545    -.1577324    .0833622
         dummy2_39 |  -.0374385   .0610761    -0.61   0.540    -.1572377    .0823606
         dummy2_40 |  -.0370689   .0611459    -0.61   0.544    -.1570049    .0828671
         dummy2_41 |  -.0366046   .0609962    -0.60   0.549     -.156247    .0830378
         dummy2_42 |  -.0350723   .0614098    -0.57   0.568    -.1555259    .0853813
         dummy2_43 |  -.0368346   .0613872    -0.60   0.549     -.157244    .0835748
         dummy2_44 |  -.0369068   .0610076    -0.60   0.545    -.1565716    .0827581
         dummy2_45 |  -.1292233   .0665592    -1.94   0.052    -.2597775    .0013308
         dummy2_46 |          0  (omitted)
         dummy2_47 |  -.1265573   .0663746    -1.91   0.057    -.2567493    .0036346
         dummy2_48 |  -.1165709   .0643999    -1.81   0.070    -.2428896    .0097479
         dummy2_49 |          0  (omitted)
         dummy2_50 |  -.1208393   .0642489    -1.88   0.060    -.2468619    .0051833
         dummy2_51 |  -.1208134   .0715248    -1.69   0.091    -.2611074    .0194806
         dummy2_52 |  -.1245431   .0665097    -1.87   0.061        -.255    .0059139
         dummy2_53 |   -.125917   .0663804    -1.90   0.058    -.2561203    .0042863
         dummy2_54 |  -.1270305   .0664071    -1.91   0.056    -.2572862    .0032252
         dummy2_55 |  -.1262903    .066397    -1.90   0.057    -.2565263    .0039458
         dummy2_56 |  -.1241022   .0663852    -1.87   0.062     -.254315    .0061107
         dummy2_57 |   -.117891   .0643984    -1.83   0.067    -.2442067    .0084246
         dummy2_58 |  -.1174364   .0643568    -1.82   0.068    -.2436704    .0087977
         dummy2_59 |  -.1257589   .0664449    -1.89   0.059    -.2560887     .004571
         dummy2_60 |  -.1296192   .0665285    -1.95   0.052    -.2601131    .0008747
         dummy2_61 |  -.1284632   .0664499    -1.93   0.053    -.2588029    .0018766
         dummy2_62 |  -.1277434   .0663483    -1.93   0.054    -.2578839     .002397
         dummy2_63 |   -.127979   .0663974    -1.93   0.054    -.2582157    .0022578
         dummy2_64 |  -.1293194   .0665497    -1.94   0.052     -.259855    .0012161
         dummy2_65 |  -.1287766   .0664241    -1.94   0.053    -.2590657    .0015125
         dummy2_66 |  -.1219303   .0642472    -1.90   0.058    -.2479495    .0040889
         dummy2_67 |   .0652554   .0611413     1.07   0.286    -.0546717    .1851824
         dummy2_68 |    .076705   .0620013     1.24   0.216    -.0449088    .1983188
         dummy2_69 |   .0658672   .0610447     1.08   0.281    -.0538704    .1856048
         dummy2_70 |   .0724886   .0614391     1.18   0.238    -.0480226    .1929998
         dummy2_71 |   .0660289   .0610701     1.08   0.280    -.0537584    .1858162
         dummy2_72 |   .0655369   .0610511     1.07   0.283    -.0542133     .185287
         dummy2_73 |   .0505919   .0630851     0.80   0.423    -.0731478    .1743316
         dummy2_74 |   .0662932   .0610994     1.09   0.278    -.0535516     .186138
         dummy2_75 |   .0660834   .0610484     1.08   0.279    -.0536613    .1858281
         dummy2_76 |   .0651444   .0610917     1.07   0.286    -.0546852    .1849741
         dummy2_77 |   .0662123   .0610449     1.08   0.278    -.0535257    .1859503
         dummy2_78 |   .0659196   .0610585     1.08   0.280    -.0538449    .1856842
         dummy2_79 |   .0667734   .0612203     1.09   0.276    -.0533086    .1868554
         dummy2_80 |   .0663172   .0612667     1.08   0.279    -.0538559    .1864902
         dummy2_81 |   .0667554   .0611009     1.09   0.275    -.0530923    .1866032
         dummy2_82 |    .063711   .0611261     1.04   0.297    -.0561863    .1836083
         dummy2_83 |   .0645323   .0610822     1.06   0.291    -.0552788    .1843434
         dummy2_84 |   .0645381   .0610359     1.06   0.291    -.0551821    .1842583
         dummy2_85 |   .0647439   .0610547     1.06   0.289    -.0550134    .1845011
         dummy2_86 |   .0647194   .0610559     1.06   0.289    -.0550401     .184479
         dummy2_87 |   .0634892   .0611861     1.04   0.300    -.0565257    .1835041
         dummy2_88 |   .0650022   .0610514     1.06   0.287    -.0547484    .1847527
         dummy2_89 |   .0394807   .0602192     0.66   0.512    -.0786377     .157599
         dummy2_90 |   .0668096   .0663117     1.01   0.314     -.063259    .1968782
         dummy2_91 |   .0551177   .0648088     0.85   0.395     -.072003    .1822384
         dummy2_92 |   .0597285   .0652633     0.92   0.360    -.0682838    .1877408
         dummy2_93 |   .0562054   .0652345     0.86   0.389    -.0717503    .1841611
         dummy2_94 |   .0579356   .0650967     0.89   0.374      -.06975    .1856211
         dummy2_95 |   .0708625   .0703397     1.01   0.314    -.0671068    .2088319
         dummy2_96 |   .0600489   .0652077     0.92   0.357    -.0678542     .187952
         dummy2_97 |    .060845   .0653292     0.93   0.352    -.0672964    .1889864
         dummy2_98 |   .0561019   .0651333     0.86   0.389    -.0716554    .1838592
         dummy2_99 |   .0601636   .0651396     0.92   0.356     -.067606    .1879333
        dummy2_100 |   .0653816   .0656944     1.00   0.320    -.0634762    .1942394
        dummy2_101 |   .0655069   .0653494     1.00   0.316    -.0626742    .1936879
        dummy2_102 |   .0617408   .0651458     0.95   0.343     -.066041    .1895226
        dummy2_103 |   .0578537   .0653533     0.89   0.376     -.070335    .1860423
        dummy2_104 |   .0502111   .0615076     0.82   0.414    -.0704343    .1708566
        dummy2_105 |   .0395829   .0602811     0.66   0.512    -.0786568    .1578226
        dummy2_106 |   .0394175   .0607356     0.65   0.516    -.0797137    .1585487
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .0417392   .0606336     0.69   0.491    -.0771919    .1606704
        dummy2_110 |          0  (omitted)
        dummy2_111 |  -.0708592    .060824    -1.16   0.244    -.1901638    .0484454
        dummy2_112 |  -.0632043   .0609129    -1.04   0.300    -.1826834    .0562748
        dummy2_113 |  -.0690066   .0607141    -1.14   0.256    -.1880956    .0500825
        dummy2_114 |  -.0698072   .0607688    -1.15   0.251    -.1890036    .0493892
        dummy2_115 |  -.0695864   .0607187    -1.15   0.252    -.1886845    .0495116
        dummy2_116 |  -.0695375   .0607042    -1.15   0.252    -.1886073    .0495322
        dummy2_117 |  -.0717027   .0611277    -1.17   0.241    -.1916031    .0481977
        dummy2_118 |  -.0671516   .0608592    -1.10   0.270    -.1865252     .052222
        dummy2_119 |  -.0695516   .0607037    -1.15   0.252    -.1886202    .0495171
        dummy2_120 |    -.07063   .0607635    -1.16   0.245    -.1898159    .0485559
        dummy2_121 |  -.0692982   .0607142    -1.14   0.254    -.1883874    .0497911
        dummy2_122 |  -.0693566   .0607199    -1.14   0.254     -.188457    .0497438
        dummy2_123 |  -.0683368   .0608863    -1.12   0.262    -.1877637    .0510901
        dummy2_124 |  -.0662174   .0610326    -1.08   0.278    -.1859311    .0534963
        dummy2_125 |  -.0703097   .0607536    -1.16   0.247    -.1894763    .0488569
        dummy2_126 |  -.0711145    .060782    -1.17   0.242    -.1903369    .0481078
        dummy2_127 |  -.0707402    .060742    -1.16   0.244     -.189884    .0484035
        dummy2_128 |  -.0705467   .0607106    -1.16   0.245    -.1896289    .0485356
        dummy2_129 |  -.0702894   .0607012    -1.16   0.247    -.1893532    .0487744
        dummy2_130 |  -.0703264   .0606945    -1.16   0.247     -.189377    .0487242
        dummy2_131 |  -.0710902   .0608069    -1.17   0.243    -.1903613    .0481809
        dummy2_132 |  -.0703309   .0607117    -1.16   0.247    -.1894152    .0487534
        dummy2_133 |  -.0407424   .0490747    -0.83   0.407    -.1370011    .0555164
        dummy2_134 |  -.0201885   .0653124    -0.31   0.757    -.1482971      .10792
        dummy2_135 |   -.030094   .0387687    -0.78   0.438    -.1061377    .0459498
        dummy2_136 |  -.0426521   .0560306    -0.76   0.447    -.1525547    .0672505
        dummy2_137 |    -.04671   .0585072    -0.80   0.425    -.1614703    .0680503
        dummy2_138 |  -.0391263   .0478668    -0.82   0.414    -.1330158    .0547633
        dummy2_139 |          0  (omitted)
        dummy2_140 |   -.038706   .0472995    -0.82   0.413    -.1314826    .0540707
        dummy2_141 |  -.0446256   .0537894    -0.83   0.407    -.1501321    .0608809
        dummy2_142 |  -.0459943   .0551424    -0.83   0.404    -.1541547    .0621662
        dummy2_143 |  -.0332184   .0419647    -0.79   0.429    -.1155311    .0490943
        dummy2_144 |  -.0363621   .0455787    -0.80   0.425    -.1257635    .0530393
        dummy2_145 |  -.0238457   .0323294    -0.74   0.461     -.087259    .0395675
        dummy2_146 |   -.034832   .0438111    -0.80   0.427    -.1207664    .0511023
        dummy2_147 |  -.0456442   .0560747    -0.81   0.416    -.1556333    .0643449
        dummy2_148 |  -.0359311   .0436189    -0.82   0.410    -.1214885    .0496263
        dummy2_149 |  -.0029661   .0172578    -0.17   0.864    -.0368168    .0308846
        dummy2_150 |  -.0307193   .0388005    -0.79   0.429    -.1068255    .0453869
        dummy2_151 |  -.0207225   .0294219    -0.70   0.481    -.0784327    .0369877
        dummy2_152 |  -.0360267   .0445808    -0.81   0.419    -.1234708    .0514174
        dummy2_153 |  -.0122543   .0215652    -0.57   0.570    -.0545539    .0300453
        dummy2_154 |          0  (omitted)
        dummy2_155 |   .1125263   .0614017     1.83   0.067    -.0079115     .232964
        dummy2_156 |   .0751128   .0706294     1.06   0.288    -.0634248    .2136504
        dummy2_157 |   .1145828   .0613151     1.87   0.062    -.0056851    .2348507
        dummy2_158 |    .127196   .0629248     2.02   0.043     .0037706    .2506213
        dummy2_159 |   .1159995   .0614047     1.89   0.059    -.0044441    .2364431
        dummy2_160 |   .1133496   .0613296     1.85   0.065    -.0069468    .2336459
        dummy2_161 |   .1090809   .0621215     1.76   0.079    -.0127686    .2309305
        dummy2_162 |    .116132   .0614351     1.89   0.059    -.0043712    .2366352
        dummy2_163 |    .117322   .0614402     1.91   0.056    -.0031914    .2378354
        dummy2_164 |    .113161   .0613586     1.84   0.065    -.0071921    .2335142
        dummy2_165 |   .1150376   .0613768     1.87   0.061    -.0053515    .2354266
        dummy2_166 |    .116396   .0614246     1.89   0.058    -.0040868    .2368788
        dummy2_167 |   .1346267   .0656707     2.05   0.041     .0058153     .263438
        dummy2_168 |   .1326151    .062388     2.13   0.034     .0102427    .2549876
        dummy2_169 |   .1134745   .0613715     1.85   0.065     -.006904     .233853
        dummy2_170 |   .1112352   .0613881     1.81   0.070     -.009176    .2316464
        dummy2_171 |   .1115639   .0613318     1.82   0.069    -.0087368    .2318645
        dummy2_172 |   .1118059   .0612962     1.82   0.068    -.0084248    .2320367
        dummy2_173 |   .1114629   .0613404     1.82   0.069    -.0088546    .2317804
        dummy2_174 |   .1107314   .0614388     1.80   0.072    -.0097791    .2312419
        dummy2_175 |   .1109477   .0613496     1.81   0.071    -.0093878    .2312833
        dummy2_176 |   .1116296   .0613154     1.82   0.069    -.0086389     .231898
        dummy2_177 |  -.1164043   .0658978    -1.77   0.078    -.2456611    .0128526
        dummy2_178 |  -.0938498    .068695    -1.37   0.172    -.2285933    .0408937
        dummy2_179 |  -.1139175   .0657111    -1.73   0.083    -.2428081    .0149731
        dummy2_180 |  -.1130784   .0657513    -1.72   0.086    -.2420478     .015891
        dummy2_181 |  -.1140408   .0657335    -1.73   0.083    -.2429752    .0148936
        dummy2_182 |  -.1143534   .0657161    -1.74   0.082    -.2432537     .014547
        dummy2_183 |  -.1113147   .0656551    -1.70   0.090    -.2400955    .0174661
        dummy2_184 |  -.1123763   .0658616    -1.71   0.088    -.2415621    .0168095
        dummy2_185 |  -.1131082   .0657134    -1.72   0.085    -.2420033    .0157869
        dummy2_186 |  -.1154523   .0657567    -1.76   0.079    -.2444324    .0135277
        dummy2_187 |  -.1139531    .065731    -1.73   0.083    -.2428828    .0149765
        dummy2_188 |  -.1104252   .0657548    -1.68   0.093    -.2394015    .0185512
        dummy2_189 |   -.108254   .0660205    -1.64   0.101    -.2377514    .0212435
        dummy2_190 |  -.1090804   .0659225    -1.65   0.098    -.2383855    .0202248
        dummy2_191 |  -.1147142   .0657722    -1.74   0.081    -.2437247    .0142962
        dummy2_192 |  -.1163599   .0658464    -1.77   0.077    -.2455159    .0127961
        dummy2_193 |  -.1160087   .0657985    -1.76   0.078    -.2450708    .0130533
        dummy2_194 |  -.1147627   .0656973    -1.75   0.081    -.2436262    .0141008
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |  -.1156047   .0657297    -1.76   0.079    -.2445317    .0133223
        dummy2_198 |  -.1151308     .06572    -1.75   0.080    -.2440388    .0137772
        dummy2_199 |    .243828   .0605711     4.03   0.000     .1250193    .3626367
        dummy2_200 |   .2627821    .062234     4.22   0.000     .1407119    .3848524
        dummy2_201 |   .2464036   .0604784     4.07   0.000     .1277768    .3650304
        dummy2_202 |   .2589038   .0620569     4.17   0.000     .1371809    .3806267
        dummy2_203 |   .2445897   .0605318     4.04   0.000     .1258582    .3633211
        dummy2_204 |   .2446449   .0604576     4.05   0.000      .126059    .3632309
        dummy2_205 |   .2555342   .0607692     4.20   0.000      .136337    .3747313
        dummy2_206 |   .2473627    .060469     4.09   0.000     .1287543     .365971
        dummy2_207 |   .2477494   .0605632     4.09   0.000     .1289564    .3665425
        dummy2_208 |   .2458484   .0605724     4.06   0.000     .1270372    .3646596
        dummy2_209 |   .2463097   .0604608     4.07   0.000     .1277173     .364902
        dummy2_210 |   .2467334   .0604839     4.08   0.000     .1280958     .365371
        dummy2_211 |   .2631602   .0614877     4.28   0.000     .1425538    .3837666
        dummy2_212 |   .2489474   .0606543     4.10   0.000     .1299757    .3679191
        dummy2_213 |   .2461497   .0605853     4.06   0.000     .1273133    .3649861
        dummy2_214 |   .2438355   .0604917     4.03   0.000     .1251826    .3624884
        dummy2_215 |   .2436376   .0604526     4.03   0.000     .1250615    .3622137
        dummy2_216 |    .243887   .0604703     4.03   0.000     .1252761    .3624979
        dummy2_217 |   .2441907   .0603967     4.04   0.000     .1257242    .3626572
        dummy2_218 |   .2437635   .0604798     4.03   0.000      .125134    .3623931
        dummy2_219 |   .2443275   .0603888     4.05   0.000     .1258765    .3627785
        dummy2_220 |   .2445219   .0602535     4.06   0.000     .1263364    .3627074
        dummy2_221 |   .1119893   .0608018     1.84   0.066    -.0072718    .2312504
        dummy2_222 |   .1115558   .0607563     1.84   0.067    -.0076161    .2307278
        dummy2_223 |   .1132313   .0606936     1.87   0.062    -.0058176    .2322802
        dummy2_224 |   .1170003    .060909     1.92   0.055    -.0024711    .2364716
        dummy2_225 |   .1141354   .0607362     1.88   0.060    -.0049971    .2332679
        dummy2_226 |   .1124562   .0607188     1.85   0.064    -.0066421    .2315546
        dummy2_227 |   .1143618   .0606682     1.89   0.060    -.0046373    .2333608
        dummy2_228 |   .1142456   .0607706     1.88   0.060    -.0049544    .2334456
        dummy2_229 |   .1130721    .060703     1.86   0.063    -.0059953    .2321395
        dummy2_230 |   .1120872   .0607455     1.85   0.065    -.0070635    .2312378
        dummy2_231 |   .1134515   .0607042     1.87   0.062    -.0056182    .2325212
        dummy2_232 |   .1144807   .0607332     1.88   0.060    -.0046458    .2336071
        dummy2_233 |   .1169545   .0610744     1.91   0.056    -.0028413    .2367503
        dummy2_234 |   .1099953   .0610271     1.80   0.072    -.0097077    .2296984
        dummy2_235 |   .1138501   .0607633     1.87   0.061    -.0053354    .2330356
        dummy2_236 |   .1108427   .0607494     1.82   0.068    -.0083156     .230001
        dummy2_237 |   .1112318   .0607637     1.83   0.067    -.0079545     .230418
        dummy2_238 |     .11149   .0606955     1.84   0.066    -.0075626    .2305427
        dummy2_239 |   .1116013   .0607361     1.84   0.066    -.0075309    .2307335
        dummy2_240 |   .1113577   .0607239     1.83   0.067    -.0077506     .230466
        dummy2_241 |   .1101945   .0608658     1.81   0.070    -.0091921    .2295812
        dummy2_242 |   .1115499   .0607713     1.84   0.067    -.0076514    .2307512
        dummy2_243 |   .2420208   .0605968     3.99   0.000     .1231617    .3608799
        dummy2_244 |   .2433961   .0606427     4.01   0.000     .1244471    .3623451
        dummy2_245 |   .2430621   .0604858     4.02   0.000     .1244208    .3617034
        dummy2_246 |   .2466317   .0606189     4.07   0.000     .1277293    .3655342
        dummy2_247 |   .2434845   .0605209     4.02   0.000     .1247744    .3621946
        dummy2_248 |   .2428541   .0605095     4.01   0.000     .1241663    .3615419
        dummy2_249 |   .2432431    .062188     3.91   0.000      .121263    .3652233
        dummy2_250 |   .2422802   .0606042     4.00   0.000     .1234066    .3611537
        dummy2_251 |   .2433499   .0605034     4.02   0.000      .124674    .3620257
        dummy2_252 |   .2429996   .0605481     4.01   0.000     .1242362    .3617631
        dummy2_253 |   .2435511   .0604944     4.03   0.000     .1248931    .3622092
        dummy2_254 |   .2438439   .0605052     4.03   0.000     .1251646    .3625233
        dummy2_255 |   .2438386   .0606536     4.02   0.000     .1248681    .3628091
        dummy2_256 |   .2437287   .0606878     4.02   0.000     .1246912    .3627663
        dummy2_257 |   .2449362   .0605608     4.04   0.000     .1261479    .3637246
        dummy2_258 |   .2413976   .0606029     3.98   0.000     .1225267    .3602685
        dummy2_259 |   .2425872   .0605253     4.01   0.000     .1238686    .3613059
        dummy2_260 |   .2424198   .0604858     4.01   0.000     .1237786     .361061
        dummy2_261 |   .2429178   .0605041     4.01   0.000     .1242405     .361595
        dummy2_262 |   .2424734   .0605035     4.01   0.000     .1237974    .3611495
        dummy2_263 |   .2408046   .0607914     3.96   0.000     .1215639    .3600454
        dummy2_264 |   .2429677   .0604827     4.02   0.000     .1243324    .3616029
             _cons |   .3062512   .0604639     5.07   0.000     .1876529    .4248494
------------------------------------------------------------------------------------

. eststo table5_1

. reg compindex tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.per108 l.per403 l.per404 l.per505 y_*  dummy*  if 
> sample4_1==1

      Source |       SS       df       MS              Number of obs =    1847
-------------+------------------------------           F(272,  1574) =   40.47
       Model |  16.8093651   272  .061799136           Prob > F      =  0.0000
    Residual |  2.40333164  1574  .001526894           R-squared     =  0.8749
-------------+------------------------------           Adj R-squared =  0.8533
       Total |  19.2126967  1846  .010407745           Root MSE      =  .03908

------------------------------------------------------------------------------------
         compindex |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |    .011095    .012316     0.90   0.368    -.0130625    .0352524
                   |
     tecnogapklems |
               L1. |  -.0004158   .0026549    -0.16   0.876    -.0056233    .0047916
                   |
         ind_trend |  -.0102482   .0157449    -0.65   0.515    -.0411314     .020635
                   |
          tradelib |
               L1. |  -.0024979   .0023937    -1.04   0.297     -.007193    .0021972
                   |
            per108 |
               L1. |   .0077228   .0012081     6.39   0.000     .0053532    .0100924
                   |
            per403 |
               L1. |  -.0137038   .0013104   -10.46   0.000    -.0162741   -.0111335
                   |
            per404 |
               L1. |   .0071723   .0028563     2.51   0.012     .0015697    .0127748
                   |
            per505 |
               L1. |   .0287398   .0029841     9.63   0.000     .0228865    .0345931
                   |
               y_1 |          0  (omitted)
               y_2 |          0  (omitted)
               y_3 |   -.001966   .0045726    -0.43   0.667     -.010935    .0070029
               y_4 |  -.0013768    .004566    -0.30   0.763     -.010333    .0075794
               y_5 |  -.0110538   .0045257    -2.44   0.015    -.0199309   -.0021767
               y_6 |   .0104289   .0047768     2.18   0.029     .0010593    .0197985
               y_7 |   .0266843   .0046832     5.70   0.000     .0174984    .0358703
               y_8 |   .0445199   .0047951     9.28   0.000     .0351144    .0539253
               y_9 |   .0494134   .0049019    10.08   0.000     .0397985    .0590283
              y_10 |   .0623419   .0049994    12.47   0.000     .0525358    .0721481
              y_11 |   .0687791   .0049838    13.80   0.000     .0590034    .0785547
          dummy2_1 |   .1622877   .0652736     2.49   0.013     .0342552    .2903201
          dummy2_2 |   .1631046   .0652648     2.50   0.013     .0350895    .2911197
          dummy2_3 |   .1642309   .0650876     2.52   0.012     .0365635    .2918983
          dummy2_4 |   .1668696   .0652403     2.56   0.011     .0389025    .2948366
          dummy2_5 |    .162934   .0651361     2.50   0.012     .0351713    .2906968
          dummy2_6 |    .163765   .0651283     2.51   0.012     .0360176    .2915124
          dummy2_7 |   .1682565   .0650768     2.59   0.010       .04061    .2959029
          dummy2_8 |   .1687907   .0652518     2.59   0.010     .0408012    .2967803
          dummy2_9 |    .165666   .0651398     2.54   0.011      .037896    .2934359
         dummy2_10 |   .1646228   .0651748     2.53   0.012     .0367843    .2924613
         dummy2_11 |   .1652954    .065122     2.54   0.011     .0375603    .2930304
         dummy2_12 |   .1701927   .0653852     2.60   0.009     .0419415    .2984438
         dummy2_13 |   .1785973   .0685121     2.61   0.009     .0442128    .3129819
         dummy2_14 |   .1705104   .0672563     2.54   0.011     .0385891    .3024318
         dummy2_15 |   .1651006   .0651605     2.53   0.011     .0372901    .2929111
         dummy2_16 |   .1621847   .0652066     2.49   0.013     .0342838    .2900856
         dummy2_17 |   .1627237   .0651333     2.50   0.013     .0349665    .2904809
         dummy2_18 |   .1633028   .0651501     2.51   0.012     .0355126     .291093
         dummy2_19 |   .1626029   .0651358     2.50   0.013     .0348409    .2903649
         dummy2_20 |   .1617392   .0652472     2.48   0.013     .0337587    .2897198
         dummy2_21 |   .1637992   .0652656     2.51   0.012     .0357826    .2918157
         dummy2_22 |   .1633167   .0651135     2.51   0.012     .0355984     .291035
         dummy2_23 |   .0567147   .0625314     0.91   0.365    -.0659389    .1793684
         dummy2_24 |   .0633155   .0626931     1.01   0.313    -.0596552    .1862862
         dummy2_25 |   .0583133   .0624297     0.93   0.350    -.0641408    .1807674
         dummy2_26 |   .0613096   .0626735     0.98   0.328    -.0616228     .184242
         dummy2_27 |   .0576281    .062549     0.92   0.357      -.06506    .1803163
         dummy2_28 |   .0606637   .0626818     0.97   0.333    -.0622848    .1836122
         dummy2_29 |   .0611357   .0645364     0.95   0.344    -.0654505     .187722
         dummy2_30 |   .0649641   .0627767     1.03   0.301    -.0581707    .1880989
         dummy2_31 |   .0634396   .0628275     1.01   0.313    -.0597948    .1866741
         dummy2_32 |   .0576019   .0625437     0.92   0.357    -.0650758    .1802795
         dummy2_33 |   .0602612   .0624557     0.96   0.335     -.062244    .1827663
         dummy2_34 |   .0602317   .0625252     0.96   0.336    -.0624097    .1828732
         dummy2_35 |   .0661395   .0632813     1.05   0.296    -.0579851     .190264
         dummy2_36 |   .0610781   .0632197     0.97   0.334    -.0629255    .1850818
         dummy2_37 |   .0589505   .0625859     0.94   0.346    -.0638101     .181711
         dummy2_38 |   .0571512   .0627809     0.91   0.363    -.0659918    .1802941
         dummy2_39 |   .0565144   .0623882     0.91   0.365    -.0658583     .178887
         dummy2_40 |   .0569104   .0624607     0.91   0.362    -.0656045    .1794252
         dummy2_41 |     .05647   .0623179     0.91   0.365    -.0657648    .1787047
         dummy2_42 |   .0539773   .0628082     0.86   0.390    -.0692193     .177174
         dummy2_43 |    .057803   .0627029     0.92   0.357     -.065187    .1807929
         dummy2_44 |   .0568571   .0623195     0.91   0.362    -.0653808    .1790951
         dummy2_45 |  -.0749344   .0685415    -1.09   0.274    -.2093767    .0595078
         dummy2_46 |          0  (omitted)
         dummy2_47 |  -.0717591   .0683461    -1.05   0.294    -.2058179    .0622998
         dummy2_48 |  -.0585924   .0662724    -0.88   0.377    -.1885838    .0713991
         dummy2_49 |          0  (omitted)
         dummy2_50 |  -.0628859   .0661161    -0.95   0.342    -.1925707    .0667989
         dummy2_51 |  -.0643023   .0736692    -0.87   0.383    -.2088024    .0801978
         dummy2_52 |  -.0693865   .0684832    -1.01   0.311    -.2037144    .0649413
         dummy2_53 |  -.0719025   .0683583    -1.05   0.293    -.2059855    .0621804
         dummy2_54 |  -.0727562   .0683839    -1.06   0.288    -.2068893    .0613769
         dummy2_55 |  -.0723174   .0683759    -1.06   0.290    -.2064349       .0618
         dummy2_56 |  -.0698499   .0683614    -1.02   0.307     -.203939    .0642391
         dummy2_57 |  -.0600927   .0662724    -0.91   0.365    -.1900841    .0698987
         dummy2_58 |  -.0592557   .0662259    -0.89   0.371     -.189156    .0706445
         dummy2_59 |  -.0716157   .0684241    -1.05   0.295    -.2058277    .0625964
         dummy2_60 |  -.0749124   .0685063    -1.09   0.274    -.2092857    .0594608
         dummy2_61 |  -.0746472   .0684319    -1.09   0.276    -.2088746    .0595802
         dummy2_62 |  -.0734954   .0683232    -1.08   0.282    -.2075095    .0605188
         dummy2_63 |  -.0740804   .0683769    -1.08   0.279    -.2081998     .060039
         dummy2_64 |  -.0755467   .0685357    -1.10   0.271    -.2099776    .0588843
         dummy2_65 |  -.0735565    .068394    -1.08   0.282    -.2077094    .0605965
         dummy2_66 |  -.0643074   .0661172    -0.97   0.331    -.1939943    .0653796
         dummy2_67 |   .0800315   .0631422     1.27   0.205    -.0438203    .2038833
         dummy2_68 |   .0933126   .0640263     1.46   0.145    -.0322732    .2188985
         dummy2_69 |   .0810177   .0630415     1.29   0.199    -.0426365     .204672
         dummy2_70 |   .0868816   .0634508     1.37   0.171    -.0375755    .2113387
         dummy2_71 |   .0799368   .0630706     1.27   0.205    -.0437744    .2036481
         dummy2_72 |   .0799319   .0630499     1.27   0.205    -.0437388    .2036027
         dummy2_73 |   .0715855   .0651336     1.10   0.272    -.0561723    .1993434
         dummy2_74 |   .0822843    .063096     1.30   0.192    -.0414767    .2060453
         dummy2_75 |   .0802606   .0630476     1.27   0.203    -.0434055    .2039267
         dummy2_76 |   .0794658    .063092     1.26   0.208    -.0442874     .203219
         dummy2_77 |   .0803558   .0630441     1.27   0.203    -.0433034    .2040151
         dummy2_78 |   .0800325   .0630582     1.27   0.205    -.0436543    .2037194
         dummy2_79 |   .0810704    .063225     1.28   0.200    -.0429437    .2050844
         dummy2_80 |   .0810757   .0632719     1.28   0.200    -.0430303    .2051818
         dummy2_81 |   .0807843   .0631022     1.28   0.201    -.0429889    .2045574
         dummy2_82 |   .0792469   .0631247     1.26   0.210    -.0445705    .2030644
         dummy2_83 |   .0787404   .0630825     1.25   0.212    -.0449941    .2024749
         dummy2_84 |   .0794587   .0630329     1.26   0.208    -.0441787     .203096
         dummy2_85 |   .0789693   .0630541     1.25   0.211    -.0447095     .202648
         dummy2_86 |   .0789404   .0630553     1.25   0.211    -.0447408    .2026216
         dummy2_87 |   .0800751   .0631841     1.27   0.205    -.0438586    .2040089
         dummy2_88 |   .0790856   .0630509     1.25   0.210     -.044587    .2027581
         dummy2_89 |   .1146687   .0617506     1.86   0.064    -.0064534    .2357907
         dummy2_90 |    .145645   .0680451     2.14   0.032     .0121764    .2791135
         dummy2_91 |   .1277543   .0665526     1.92   0.055    -.0027867    .2582953
         dummy2_92 |   .1332841   .0670149     1.99   0.047     .0018362    .2647319
         dummy2_93 |   .1289378   .0669939     1.92   0.054    -.0024688    .2603444
         dummy2_94 |   .1302908   .0668548     1.95   0.051    -.0008431    .2614247
         dummy2_95 |   .1456895   .0722749     2.02   0.044     .0039243    .2874548
         dummy2_96 |   .1331739   .0669617     1.99   0.047     .0018303    .2645175
         dummy2_97 |   .1336392   .0670916     1.99   0.047     .0020409    .2652374
         dummy2_98 |   .1281166   .0668965     1.92   0.056    -.0030991    .2593323
         dummy2_99 |   .1327157   .0668973     1.98   0.047     .0014985    .2639328
        dummy2_100 |   .1386259   .0674662     2.05   0.040     .0062928     .270959
        dummy2_101 |   .1386825   .0671084     2.07   0.039     .0070512    .2703138
        dummy2_102 |   .1337686   .0669094     2.00   0.046     .0025278    .2650095
        dummy2_103 |   .1310161   .0671126     1.95   0.051    -.0006234    .2626557
        dummy2_104 |   .1232154   .0631168     1.95   0.051    -.0005864    .2470172
        dummy2_105 |   .1148787   .0618136     1.86   0.063    -.0063671    .2361245
        dummy2_106 |   .1153857   .0622784     1.85   0.064    -.0067717    .2375432
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .1166288   .0621854     1.88   0.061    -.0053461    .2386037
        dummy2_110 |          0  (omitted)
        dummy2_111 |  -.0081888   .0625182    -0.13   0.896    -.1308164    .1144389
        dummy2_112 |  -.0002286   .0626075    -0.00   0.997    -.1230314    .1225742
        dummy2_113 |  -.0061268   .0624019    -0.10   0.922    -.1285265    .1162729
        dummy2_114 |  -.0072553   .0624621    -0.12   0.908    -.1297729    .1152624
        dummy2_115 |  -.0071487   .0624112    -0.11   0.909    -.1295665    .1152691
        dummy2_116 |  -.0071235   .0623964    -0.11   0.909    -.1295123    .1152654
        dummy2_117 |  -.0036719   .0627777    -0.06   0.953    -.1268086    .1194648
        dummy2_118 |  -.0031914   .0625416    -0.05   0.959    -.1258651    .1194823
        dummy2_119 |  -.0071048   .0623955    -0.11   0.909    -.1294919    .1152823
        dummy2_120 |   -.008105   .0624568    -0.13   0.897    -.1306123    .1144023
        dummy2_121 |  -.0066699   .0624046    -0.11   0.915    -.1290748     .115735
        dummy2_122 |  -.0068016   .0624112    -0.11   0.913    -.1292196    .1156163
        dummy2_123 |  -.0057884   .0625841    -0.09   0.926    -.1285454    .1169686
        dummy2_124 |  -.0035514   .0627348    -0.06   0.955    -.1266038    .1195011
        dummy2_125 |  -.0079028   .0624478    -0.13   0.899    -.1303924    .1145868
        dummy2_126 |  -.0081276   .0624714    -0.13   0.897    -.1306636    .1144084
        dummy2_127 |  -.0084652    .062437    -0.14   0.892    -.1309336    .1140032
        dummy2_128 |  -.0078357      .0624    -0.13   0.900    -.1302317    .1145603
        dummy2_129 |  -.0083529    .062398    -0.13   0.894    -.1307449    .1140392
        dummy2_130 |  -.0083656   .0623908    -0.13   0.893    -.1307435    .1140122
        dummy2_131 |   -.007459   .0624907    -0.12   0.905    -.1300328    .1151148
        dummy2_132 |  -.0080979   .0624059    -0.13   0.897    -.1305054    .1143096
        dummy2_133 |  -.0309586   .0506852    -0.61   0.541    -.1303761     .068459
        dummy2_134 |   -.006513   .0674545    -0.10   0.923    -.1388231     .125797
        dummy2_135 |  -.0227458   .0400417    -0.57   0.570    -.1012864    .0557949
        dummy2_136 |  -.0328538   .0578719    -0.57   0.570    -.1463679    .0806603
        dummy2_137 |  -.0359261   .0604288    -0.59   0.552    -.1544556    .0826034
        dummy2_138 |  -.0301751   .0494388    -0.61   0.542    -.1271479    .0667977
        dummy2_139 |          0  (omitted)
        dummy2_140 |  -.0283302   .0488498    -0.58   0.562    -.1241477    .0674873
        dummy2_141 |  -.0345205   .0555558    -0.62   0.534    -.1434917    .0744506
        dummy2_142 |  -.0356441   .0569533    -0.63   0.532    -.1473564    .0760681
        dummy2_143 |  -.0256289   .0433433    -0.59   0.554    -.1106456    .0593878
        dummy2_144 |  -.0278874   .0470756    -0.59   0.554    -.1202248    .0644501
        dummy2_145 |  -.0182126   .0333918    -0.55   0.586    -.0837097    .0472846
        dummy2_146 |  -.0266961     .04525    -0.59   0.555    -.1154527    .0620605
        dummy2_147 |  -.0351804   .0579163    -0.61   0.544    -.1487816    .0784207
        dummy2_148 |  -.0269682   .0450499    -0.60   0.550    -.1153323    .0613958
        dummy2_149 |  -.0027293   .0178275    -0.15   0.878    -.0376974    .0322387
        dummy2_150 |  -.0231327   .0400741    -0.58   0.564     -.101737    .0554716
        dummy2_151 |    -.01651   .0303901    -0.54   0.587    -.0761195    .0430994
        dummy2_152 |  -.0279277   .0460453    -0.61   0.544    -.1182442    .0623889
        dummy2_153 |  -.0077877   .0222726    -0.35   0.727    -.0514748    .0358993
        dummy2_154 |          0  (omitted)
        dummy2_155 |    .096737   .0634088     1.53   0.127    -.0276377    .2211117
        dummy2_156 |   .0458983   .0729022     0.63   0.529    -.0970974     .188894
        dummy2_157 |   .0981983   .0633178     1.55   0.121    -.0259979    .2223945
        dummy2_158 |   .1112271   .0649823     1.71   0.087    -.0162339    .2386881
        dummy2_159 |   .1001311   .0634117     1.58   0.115    -.0242492    .2245114
        dummy2_160 |   .0969284   .0633328     1.53   0.126     -.027297    .2211539
        dummy2_161 |    .091935   .0641491     1.43   0.152    -.0338917    .2177617
        dummy2_162 |   .1009883   .0634449     1.59   0.112    -.0234571    .2254337
        dummy2_163 |   .1011539   .0634477     1.59   0.111     -.023297    .2256049
        dummy2_164 |   .0971703   .0633638     1.53   0.125     -.027116    .2214566
        dummy2_165 |   .0986897   .0633818     1.56   0.120    -.0256319    .2230112
        dummy2_166 |   .1003072   .0634318     1.58   0.114    -.0241125     .224727
        dummy2_167 |   .1200862   .0678229     1.77   0.077    -.0129465    .2531189
        dummy2_168 |   .1171273   .0644288     1.82   0.069     -.009248    .2435026
        dummy2_169 |    .097034    .063376     1.53   0.126    -.0272762    .2213442
        dummy2_170 |   .0948163   .0633933     1.50   0.135    -.0295278    .2191604
        dummy2_171 |   .0952138   .0633352     1.50   0.133    -.0290164    .2194441
        dummy2_172 |   .0955866   .0632987     1.51   0.131    -.0285721    .2197453
        dummy2_173 |   .0951406   .0633441     1.50   0.133    -.0291072    .2193883
        dummy2_174 |   .0942294   .0634454     1.49   0.138     -.030217    .2186757
        dummy2_175 |   .0957724   .0633565     1.51   0.131    -.0284996    .2200444
        dummy2_176 |   .0954516   .0633187     1.51   0.132    -.0287463    .2196494
        dummy2_177 |  -.0626641   .0678604    -0.92   0.356    -.1957705    .0704422
        dummy2_178 |  -.0375768    .070739    -0.53   0.595    -.1763293    .1011757
        dummy2_179 |  -.0595666   .0676621    -0.88   0.379     -.192284    .0731507
        dummy2_180 |  -.0587269   .0677037    -0.87   0.386    -.1915259    .0740721
        dummy2_181 |  -.0603049   .0676902    -0.89   0.373    -.1930772    .0724675
        dummy2_182 |  -.0606537   .0676724    -0.90   0.370    -.1933913    .0720839
        dummy2_183 |  -.0570978   .0676051    -0.84   0.398    -.1897035    .0755078
        dummy2_184 |  -.0573155   .0678123    -0.85   0.398    -.1903275    .0756965
        dummy2_185 |  -.0595411   .0676707    -0.88   0.379    -.1922754    .0731931
        dummy2_186 |  -.0614123   .0677119    -0.91   0.365    -.1942273    .0714026
        dummy2_187 |  -.0602747   .0676881    -0.89   0.373     -.193043    .0724936
        dummy2_188 |  -.0568821   .0677138    -0.84   0.401    -.1897009    .0759367
        dummy2_189 |  -.0545591   .0679879    -0.80   0.422    -.1879155    .0787974
        dummy2_190 |  -.0547856   .0678816    -0.81   0.420    -.1879334    .0783622
        dummy2_191 |   -.060877   .0677295    -0.90   0.369    -.1937266    .0719725
        dummy2_192 |  -.0629051   .0678094    -0.93   0.354    -.1959114    .0701012
        dummy2_193 |  -.0622838   .0677577    -0.92   0.358    -.1951886     .070621
        dummy2_194 |  -.0613804   .0676555    -0.91   0.364    -.1940847     .071324
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |  -.0615179   .0676834    -0.91   0.364    -.1942771    .0712413
        dummy2_198 |  -.0616378   .0676781    -0.91   0.363    -.1943866     .071111
        dummy2_199 |   .2453991   .0625704     3.92   0.000     .1226691    .3681291
        dummy2_200 |   .2656998   .0642876     4.13   0.000     .1396015    .3917982
        dummy2_201 |   .2472525   .0624747     3.96   0.000     .1247101    .3697949
        dummy2_202 |   .2603359   .0641052     4.06   0.000     .1345954    .3860765
        dummy2_203 |   .2455589   .0625298     3.93   0.000     .1229085    .3682094
        dummy2_204 |   .2453982   .0624532     3.93   0.000      .122898    .3678984
        dummy2_205 |   .2581647   .0627746     4.11   0.000     .1350341    .3812954
        dummy2_206 |   .2482312    .062465     3.97   0.000     .1257079    .3707545
        dummy2_207 |   .2486471   .0625623     3.97   0.000      .125933    .3713613
        dummy2_208 |   .2466807   .0625718     3.94   0.000     .1239478    .3694135
        dummy2_209 |   .2471669   .0624565     3.96   0.000     .1246601    .3696737
        dummy2_210 |   .2477625   .0624804     3.97   0.000      .125209     .370316
        dummy2_211 |   .2642071   .0635173     4.16   0.000     .1396198    .3887945
        dummy2_212 |   .2506082   .0626562     4.00   0.000     .1277098    .3735066
        dummy2_213 |   .2479778   .0625849     3.96   0.000     .1252192    .3707363
        dummy2_214 |   .2449622   .0624884     3.92   0.000     .1223929    .3675315
        dummy2_215 |   .2448864    .062448     3.92   0.000     .1223964    .3673763
        dummy2_216 |   .2454051   .0624662     3.93   0.000     .1228793    .3679308
        dummy2_217 |   .2449896   .0623903     3.93   0.000     .1226127    .3673665
        dummy2_218 |   .2450547   .0624761     3.92   0.000     .1225095    .3675998
        dummy2_219 |   .2453983   .0623821     3.93   0.000     .1230376    .3677591
        dummy2_220 |   .2452311   .0622423     3.94   0.000     .1231445    .3673177
        dummy2_221 |   .0694516   .0626645     1.11   0.268    -.0534631    .1923662
        dummy2_222 |   .0701482    .062625     1.12   0.263     -.052689    .1929855
        dummy2_223 |   .0701395   .0625487     1.12   0.262    -.0525481     .192827
        dummy2_224 |   .0738359   .0627712     1.18   0.240    -.0492881      .19696
        dummy2_225 |   .0706335     .06259     1.13   0.259     -.052135     .193402
        dummy2_226 |   .0691163   .0625731     1.10   0.270    -.0536191    .1918517
        dummy2_227 |   .0733428   .0625363     1.17   0.241    -.0493205     .196006
        dummy2_228 |   .0727579   .0626393     1.16   0.246    -.0501074    .1956231
        dummy2_229 |   .0699941   .0625585     1.12   0.263    -.0527127     .192701
        dummy2_230 |   .0688938   .0626017     1.10   0.271    -.0538977    .1916854
        dummy2_231 |   .0703771   .0625598     1.12   0.261    -.0523322    .1930864
        dummy2_232 |   .0714545   .0625901     1.14   0.254    -.0513142    .1942233
        dummy2_233 |   .0742057   .0629453     1.18   0.239    -.0492598    .1976712
        dummy2_234 |   .0666268   .0628921     1.06   0.290    -.0567344    .1899879
        dummy2_235 |    .070487   .0626189     1.13   0.260    -.0523383    .1933123
        dummy2_236 |   .0683733   .0626107     1.09   0.275    -.0544358    .1911824
        dummy2_237 |   .0680444   .0626206     1.09   0.277    -.0547841    .1908729
        dummy2_238 |   .0686555   .0625525     1.10   0.273    -.0540394    .1913504
        dummy2_239 |   .0682007   .0625905     1.09   0.276    -.0545689    .1909703
        dummy2_240 |   .0682886   .0625802     1.09   0.275    -.0544607     .191038
        dummy2_241 |   .0693787   .0627422     1.11   0.269    -.0536884    .1924458
        dummy2_242 |   .0684157   .0626289     1.09   0.275     -.054429    .1912605
        dummy2_243 |   .1904353    .062384     3.05   0.002     .0680708    .3127998
        dummy2_244 |   .1944351   .0624527     3.11   0.002     .0719359    .3169343
        dummy2_245 |   .1917184   .0622709     3.08   0.002     .0695757    .3138612
        dummy2_246 |    .194866   .0624054     3.12   0.002     .0724594    .3172725
        dummy2_247 |   .1915982   .0623028     3.08   0.002      .069393    .3138035
        dummy2_248 |   .1911461   .0622925     3.07   0.002     .0689611     .313331
        dummy2_249 |   .1900347   .0640199     2.97   0.003     .0644614    .3156079
        dummy2_250 |   .1927951   .0624087     3.09   0.002     .0703822     .315208
        dummy2_251 |   .1915811   .0622857     3.08   0.002     .0694095    .3137527
        dummy2_252 |   .1910951   .0623309     3.07   0.002     .0688348    .3133553
        dummy2_253 |    .191872    .062277     3.08   0.002     .0697174    .3140266
        dummy2_254 |   .1920519   .0622873     3.08   0.002     .0698771    .3142268
        dummy2_255 |   .1923935   .0624441     3.08   0.002     .0699113    .3148758
        dummy2_256 |   .1914878   .0624729     3.07   0.002     .0689489    .3140267
        dummy2_257 |    .192936   .0623432     3.09   0.002     .0706516    .3152205
        dummy2_258 |   .1913753    .062403     3.07   0.002     .0689736    .3137771
        dummy2_259 |   .1907472   .0623077     3.06   0.002     .0685323     .312962
        dummy2_260 |   .1915408   .0622747     3.08   0.002     .0693907    .3136909
        dummy2_261 |   .1909169   .0622845     3.07   0.002     .0687477    .3130862
        dummy2_262 |   .1910844   .0622889     3.07   0.002     .0689063    .3132624
        dummy2_263 |   .1924285   .0626114     3.07   0.002      .069618    .3152389
        dummy2_264 |   .1911472   .0622638     3.07   0.002     .0690185    .3132759
             _cons |   .3689478   .0611968     6.03   0.000      .248912    .4889836
------------------------------------------------------------------------------------

. eststo table5_2

. *reg pmr tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.per108 l.per403 l.per404 l.per505 y_*  dummy*  if tfpco
> rrectedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3 & samp!=.
. *eststo table5_3 (this is identical to 5_6)
. reg CPIequalw tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.pmr l.per108 l.per403 l.per404 l.per505 y_*  dummy
> *  if sample4_1==1

      Source |       SS       df       MS              Number of obs =    1847
-------------+------------------------------           F(273,  1573) =   50.25
       Model |  17.5020148   273  .064109944           Prob > F      =  0.0000
    Residual |  2.00702529  1573  .001275922           R-squared     =  0.8971
-------------+------------------------------           Adj R-squared =  0.8793
       Total |  19.5090401  1846  .010568277           Root MSE      =  .03572

------------------------------------------------------------------------------------
         CPIequalw |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0100177   .0112585     0.89   0.374    -.0120656    .0321009
                   |
     tecnogapklems |
               L1. |   .0008324   .0024298     0.34   0.732    -.0039335    .0055983
                   |
         ind_trend |  -.0177254   .0143955    -1.23   0.218    -.0459618     .010511
                   |
          tradelib |
               L1. |  -.0026985   .0021881    -1.23   0.218    -.0069905    .0015934
                   |
               pmr |
               L1. |   .0834518   .0092176     9.05   0.000     .0653716     .101532
                   |
            per108 |
               L1. |   .0094007   .0011063     8.50   0.000     .0072307    .0115707
                   |
            per403 |
               L1. |  -.0098786    .001311    -7.54   0.000    -.0124501   -.0073071
                   |
            per404 |
               L1. |   .0088042   .0026313     3.35   0.001      .003643    .0139653
                   |
            per505 |
               L1. |  -.0139189   .0035148    -3.96   0.000     -.020813   -.0070247
                   |
               y_1 |          0  (omitted)
               y_2 |   -.059646    .006672    -8.94   0.000     -.072733   -.0465591
               y_3 |  -.0727619   .0069054   -10.54   0.000    -.0863066   -.0592173
               y_4 |  -.0853881   .0070226   -12.16   0.000    -.0991628   -.0716134
               y_5 |  -.1107133   .0066733   -16.59   0.000    -.1238028   -.0976238
               y_6 |  -.0808052   .0050897   -15.88   0.000    -.0907885   -.0708219
               y_7 |  -.0613888   .0049323   -12.45   0.000    -.0710633   -.0517142
               y_8 |  -.0365077   .0047312    -7.72   0.000    -.0457878   -.0272276
               y_9 |  -.0310838   .0046633    -6.67   0.000    -.0402308   -.0219367
              y_10 |          0  (omitted)
              y_11 |   .0031887   .0039102     0.82   0.415     -.004481    .0108583
          dummy2_1 |   .1727761   .0597923     2.89   0.004     .0554951    .2900571
          dummy2_2 |   .1724849    .059778     2.89   0.004      .055232    .2897378
          dummy2_3 |   .1750654   .0596246     2.94   0.003     .0581134    .2920174
          dummy2_4 |   .1777119   .0597615     2.97   0.003     .0604913    .2949325
          dummy2_5 |   .1737335   .0596693     2.91   0.004     .0566938    .2907732
          dummy2_6 |   .1740258   .0596586     2.92   0.004     .0570071    .2910445
          dummy2_7 |   .1768246   .0596012     2.97   0.003     .0599185    .2937307
          dummy2_8 |    .178704    .059766     2.99   0.003     .0614746    .2959333
          dummy2_9 |   .1763662   .0596702     2.96   0.003     .0593246    .2934077
         dummy2_10 |   .1754715   .0597033     2.94   0.003     .0583651     .292578
         dummy2_11 |   .1760123   .0596544     2.95   0.003     .0590018    .2930228
         dummy2_12 |   .1816735   .0598955     3.03   0.002     .0641902    .2991569
         dummy2_13 |   .1927291   .0627653     3.07   0.002     .0696167    .3158414
         dummy2_14 |   .1827127   .0616145     2.97   0.003     .0618575    .3035679
         dummy2_15 |   .1761496   .0596913     2.95   0.003     .0590667    .2932324
         dummy2_16 |   .1725398    .059731     2.89   0.004      .055379    .2897006
         dummy2_17 |   .1730437   .0596642     2.90   0.004      .056014    .2900733
         dummy2_18 |   .1729242   .0596754     2.90   0.004     .0558724    .2899759
         dummy2_19 |   .1730791   .0596673     2.90   0.004     .0560432     .290115
         dummy2_20 |   .1722304   .0597688     2.88   0.004     .0549955    .2894653
         dummy2_21 |   .1723533   .0597744     2.88   0.004     .0551074    .2895992
         dummy2_22 |   .1731262   .0596431     2.90   0.004     .0561378    .2901145
         dummy2_23 |  -.0513134   .0578019    -0.89   0.375    -.1646902    .0620634
         dummy2_24 |  -.0459183   .0579722    -0.79   0.428    -.1596293    .0677927
         dummy2_25 |  -.0496374   .0577093    -0.86   0.390    -.1628327    .0635578
         dummy2_26 |  -.0471232   .0579423    -0.81   0.416    -.1607755    .0665291
         dummy2_27 |  -.0507135   .0578219    -0.88   0.381    -.1641296    .0627026
         dummy2_28 |  -.0459397   .0579258    -0.79   0.428    -.1595596    .0676802
         dummy2_29 |  -.0462562   .0595536    -0.78   0.437     -.163069    .0705566
         dummy2_30 |  -.0430489   .0580343    -0.74   0.458    -.1568816    .0707837
         dummy2_31 |  -.0414046   .0580521    -0.71   0.476    -.1552722    .0724631
         dummy2_32 |  -.0506924    .057817    -0.88   0.381    -.1640988    .0627141
         dummy2_33 |  -.0477959   .0577377    -0.83   0.408    -.1610468    .0654551
         dummy2_34 |  -.0481519    .057805    -0.83   0.405    -.1615349    .0652312
         dummy2_35 |  -.0386479   .0584688    -0.66   0.509     -.153333    .0760371
         dummy2_36 |   -.046305   .0584624    -0.79   0.428    -.1609775    .0683675
         dummy2_37 |  -.0493538   .0578574    -0.85   0.394    -.1628396    .0641321
         dummy2_38 |   -.051235   .0580346    -0.88   0.377    -.1650683    .0625983
         dummy2_39 |  -.0517766   .0576744    -0.90   0.369    -.1649034    .0613502
         dummy2_40 |  -.0514689   .0577403    -0.89   0.373     -.164725    .0617871
         dummy2_41 |  -.0509756   .0575989    -0.89   0.376    -.1639544    .0620032
         dummy2_42 |  -.0506473   .0579895    -0.87   0.383    -.1643921    .0630976
         dummy2_43 |  -.0524336   .0579682    -0.90   0.366    -.1661367    .0612695
         dummy2_44 |  -.0512662   .0576097    -0.89   0.374    -.1642661    .0617338
         dummy2_45 |  -.2529253   .0628522    -4.02   0.000    -.3762081   -.1296425
         dummy2_46 |          0  (omitted)
         dummy2_47 |  -.2501524   .0626778    -3.99   0.000    -.3730932   -.1272116
         dummy2_48 |  -.2365122   .0608131    -3.89   0.000    -.3557955   -.1172289
         dummy2_49 |          0  (omitted)
         dummy2_50 |  -.2413231   .0606705    -3.98   0.000    -.3603267   -.1223195
         dummy2_51 |   -.238262   .0675412    -3.53   0.000    -.3707422   -.1057818
         dummy2_52 |  -.2477426   .0628053    -3.94   0.000    -.3709336   -.1245516
         dummy2_53 |  -.2495027   .0626832    -3.98   0.000    -.3724542   -.1265511
         dummy2_54 |  -.2506709   .0627084    -4.00   0.000    -.3736719     -.12767
         dummy2_55 |  -.2498986    .062699    -3.99   0.000     -.372881   -.1269162
         dummy2_56 |  -.2474826   .0626878    -3.95   0.000    -.3704431   -.1245221
         dummy2_57 |  -.2379383   .0608116    -3.91   0.000    -.3572187   -.1186579
         dummy2_58 |   -.237463   .0607724    -3.91   0.000    -.3566663   -.1182596
         dummy2_59 |  -.2492166   .0627442    -3.97   0.000    -.3722876   -.1261456
         dummy2_60 |  -.2533944   .0628231    -4.03   0.000    -.3766203   -.1301684
         dummy2_61 |  -.2523001   .0627489    -4.02   0.000    -.3753804   -.1292197
         dummy2_62 |  -.2516145    .062653    -4.02   0.000    -.3745066   -.1287224
         dummy2_63 |  -.2518405   .0626993    -4.02   0.000    -.3748236   -.1288574
         dummy2_64 |  -.2531144   .0628432    -4.03   0.000    -.3763796   -.1298491
         dummy2_65 |  -.2525991   .0627245    -4.03   0.000    -.3756316   -.1295665
         dummy2_66 |  -.2426519   .0606689    -4.00   0.000    -.3616524   -.1236515
         dummy2_67 |    .005991    .057736     0.10   0.917    -.1072566    .1192386
         dummy2_68 |   .0188131    .058548     0.32   0.748    -.0960273    .1336535
         dummy2_69 |   .0065652   .0576448     0.11   0.909    -.1065034    .1196339
         dummy2_70 |   .0139881   .0580172     0.24   0.810    -.0998111    .1277872
         dummy2_71 |   .0066604   .0576687     0.12   0.908    -.1064552    .1197761
         dummy2_72 |   .0061417   .0576508     0.11   0.915    -.1069389    .1192222
         dummy2_73 |  -.0016392   .0595715    -0.03   0.978    -.1184871    .1152087
         dummy2_74 |   .0071279   .0576964     0.12   0.902     -.106042    .1202979
         dummy2_75 |   .0067265   .0576482     0.12   0.907    -.1063489     .119802
         dummy2_76 |   .0057536   .0576891     0.10   0.921     -.107402    .1189092
         dummy2_77 |   .0068555    .057645     0.12   0.905    -.1062136    .1199245
         dummy2_78 |   .0065429   .0576577     0.11   0.910    -.1065512     .119637
         dummy2_79 |   .0077083   .0578106     0.13   0.894    -.1056856    .1211022
         dummy2_80 |   .0069547   .0578544     0.12   0.904    -.1065252    .1204346
         dummy2_81 |   .0075262   .0576978     0.13   0.896    -.1056465     .120699
         dummy2_82 |   .0042388   .0577217     0.07   0.941    -.1089807    .1174583
         dummy2_83 |   .0050093   .0576802     0.09   0.931    -.1081288    .1181474
         dummy2_84 |   .0050173   .0576364     0.09   0.931     -.108035    .1180696
         dummy2_85 |   .0052117   .0576542     0.09   0.928    -.1078755    .1182989
         dummy2_86 |   .0051892   .0576553     0.09   0.928    -.1079003    .1182786
         dummy2_87 |   .0040187   .0577783     0.07   0.945    -.1093119    .1173493
         dummy2_88 |   .0054526    .057651     0.09   0.925    -.1076284    .1185335
         dummy2_89 |   .0439931   .0568652     0.77   0.439    -.0675465    .1555327
         dummy2_90 |   .0745274   .0626184     1.19   0.234    -.0482969    .1973517
         dummy2_91 |   .0622022   .0611992     1.02   0.310    -.0578384    .1822428
         dummy2_92 |   .0674721   .0616284     1.09   0.274    -.0534104    .1883547
         dummy2_93 |   .0634004   .0616012     1.03   0.304    -.0574286    .1842295
         dummy2_94 |   .0652888   .0614711     1.06   0.288    -.0552851    .1858628
         dummy2_95 |   .0808437    .066422     1.22   0.224    -.0494414    .2111287
         dummy2_96 |   .0678637   .0615759     1.10   0.271    -.0529158    .1886431
         dummy2_97 |   .0685791   .0616906     1.11   0.266    -.0524253    .1895835
         dummy2_98 |   .0632322   .0615057     1.03   0.304    -.0574095    .1838739
         dummy2_99 |   .0678511   .0615116     1.10   0.270    -.0528023    .1885045
        dummy2_100 |   .0736935   .0620355     1.19   0.235    -.0479875    .1953744
        dummy2_101 |   .0740785   .0617097     1.20   0.230    -.0469633    .1951203
        dummy2_102 |   .0695952   .0615175     1.13   0.258    -.0510697      .19026
        dummy2_103 |   .0653498   .0617133     1.06   0.290    -.0556992    .1863989
        dummy2_104 |   .0584554   .0580818     1.01   0.314    -.0554706    .1723814
        dummy2_105 |    .043982   .0569237     0.77   0.440    -.0676722    .1556362
        dummy2_106 |   .0436384   .0573529     0.76   0.447    -.0688577    .1561345
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .0481896   .0572565     0.84   0.400    -.0641176    .1604968
        dummy2_110 |          0  (omitted)
        dummy2_111 |  -.0839968   .0574363    -1.46   0.144    -.1966566     .028663
        dummy2_112 |  -.0755897   .0575203    -1.31   0.189    -.1884143    .0372349
        dummy2_113 |  -.0820529   .0573325    -1.43   0.153    -.1945091    .0304033
        dummy2_114 |  -.0828819   .0573842    -1.44   0.149    -.1954396    .0296757
        dummy2_115 |  -.0826955   .0573369    -1.44   0.149    -.1951602    .0297693
        dummy2_116 |  -.0826674   .0573233    -1.44   0.149    -.1951054    .0297706
        dummy2_117 |  -.0880752   .0577232    -1.53   0.127    -.2012976    .0251472
        dummy2_118 |  -.0798646   .0574695    -1.39   0.165    -.1925896    .0328604
        dummy2_119 |  -.0826809   .0573227    -1.44   0.149    -.1951179    .0297561
        dummy2_120 |  -.0838175   .0573792    -1.46   0.144    -.1963652    .0287302
        dummy2_121 |  -.0823896   .0573327    -1.44   0.151    -.1948461    .0300669
        dummy2_122 |  -.0824444    .057338    -1.44   0.151    -.1949114    .0300225
        dummy2_123 |  -.0811144   .0574952    -1.41   0.159    -.1938897    .0316609
        dummy2_124 |  -.0793346   .0576333    -1.38   0.169    -.1923808    .0337115
        dummy2_125 |  -.0834684   .0573699    -1.45   0.146    -.1959979    .0290611
        dummy2_126 |  -.0843571   .0573967    -1.47   0.142    -.1969393     .028225
        dummy2_127 |   -.084018   .0573589    -1.46   0.143    -.1965259    .0284899
        dummy2_128 |  -.0838314   .0573293    -1.46   0.144    -.1962812    .0286185
        dummy2_129 |   -.083589   .0573204    -1.46   0.145    -.1960214    .0288435
        dummy2_130 |  -.0836204    .057314    -1.46   0.145    -.1960403    .0287996
        dummy2_131 |  -.0843493   .0574202    -1.47   0.142    -.1969775    .0282789
        dummy2_132 |  -.0836344   .0573303    -1.46   0.145    -.1960862    .0288174
        dummy2_133 |  -.0540365   .0463414    -1.17   0.244     -.144934     .036861
        dummy2_134 |  -.0331268   .0616748    -0.54   0.591    -.1541003    .0878466
        dummy2_135 |  -.0402091   .0366094    -1.10   0.272    -.1120175    .0315993
        dummy2_136 |  -.0569323     .05291    -1.08   0.282    -.1607138    .0468491
        dummy2_137 |   -.062835   .0552486    -1.14   0.256    -.1712036    .0455336
        dummy2_138 |   -.052198   .0452008    -1.15   0.248    -.1408582    .0364623
        dummy2_139 |          0  (omitted)
        dummy2_140 |  -.0514507   .0446651    -1.15   0.250    -.1390601    .0361587
        dummy2_141 |  -.0595547   .0507936    -1.17   0.241    -.1591849    .0400755
        dummy2_142 |  -.0612908   .0520712    -1.18   0.239    -.1634271    .0408455
        dummy2_143 |  -.0444068   .0396275    -1.12   0.263     -.122135    .0333213
        dummy2_144 |  -.0474793   .0430402    -1.10   0.270    -.1319014    .0369428
        dummy2_145 |  -.0304029   .0305288    -1.00   0.319    -.0902843    .0294785
        dummy2_146 |  -.0453601    .041371    -1.10   0.273    -.1265083    .0357881
        dummy2_147 |  -.0610926   .0529516    -1.15   0.249    -.1649557    .0427706
        dummy2_148 |  -.0476211   .0411895    -1.16   0.248    -.1284133    .0331711
        dummy2_149 |  -.0039213   .0162966    -0.24   0.810    -.0358866    .0280441
        dummy2_150 |  -.0409225   .0366395    -1.12   0.264    -.1127898    .0309449
        dummy2_151 |  -.0277789   .0277832    -1.00   0.318    -.0822748    .0267171
        dummy2_152 |  -.0480994   .0420979    -1.14   0.253    -.1306732    .0344745
        dummy2_153 |  -.0159415   .0203641    -0.78   0.434    -.0558852    .0240022
        dummy2_154 |          0  (omitted)
        dummy2_155 |   .1694678   .0579819     2.92   0.004      .055738    .2831977
        dummy2_156 |   .1071002   .0666956     1.61   0.109    -.0237214    .2379219
        dummy2_157 |   .1715571   .0579001     2.96   0.003     .0579877    .2851266
        dummy2_158 |   .1858121   .0594202     3.13   0.002      .069261    .3023632
        dummy2_159 |   .1732488   .0579847     2.99   0.003     .0595134    .2869841
        dummy2_160 |   .1702156   .0579138     2.94   0.003     .0566192    .2838119
        dummy2_161 |   .1639037   .0586615     2.79   0.005     .0488406    .2789667
        dummy2_162 |   .1734647   .0580134     2.99   0.003     .0596731    .2872564
        dummy2_163 |   .1746624   .0580183     3.01   0.003     .0608611    .2884637
        dummy2_164 |   .1700992   .0579411     2.94   0.003     .0564492    .2837492
        dummy2_165 |   .1721347   .0579584     2.97   0.003     .0584508    .2858185
        dummy2_166 |   .1736722   .0580035     2.99   0.003     .0598998    .2874445
        dummy2_167 |   .1945184   .0620131     3.14   0.002     .0728813    .3161555
        dummy2_168 |   .1922496   .0589133     3.26   0.001     .0766928    .3078064
        dummy2_169 |   .1704109   .0579533     2.94   0.003      .056737    .2840847
        dummy2_170 |   .1679182   .0579691     2.90   0.004     .0542134     .281623
        dummy2_171 |   .1682009   .0579158     2.90   0.004     .0546005    .2818013
        dummy2_172 |   .1684318   .0578822     2.91   0.004     .0548974    .2819662
        dummy2_173 |   .1681048   .0579239     2.90   0.004     .0544885    .2817211
        dummy2_174 |   .1674089   .0580169     2.89   0.004     .0536103    .2812074
        dummy2_175 |   .1676149   .0579326     2.89   0.004     .0539816    .2812482
        dummy2_176 |   .1682624   .0579004     2.91   0.004     .0546924    .2818324
        dummy2_177 |  -.1564556   .0622276    -2.51   0.012    -.2785133   -.0343979
        dummy2_178 |  -.1312042    .064869    -2.02   0.043     -.258443   -.0039654
        dummy2_179 |  -.1538702   .0620513    -2.48   0.013    -.2755821   -.0321582
        dummy2_180 |  -.1528739   .0620892    -2.46   0.014    -.2746603   -.0310876
        dummy2_181 |  -.1540153   .0620724    -2.48   0.013    -.2757686    -.032262
        dummy2_182 |  -.1544067    .062056    -2.49   0.013    -.2761278   -.0326856
        dummy2_183 |  -.1510917   .0619984    -2.44   0.015    -.2726999   -.0294835
        dummy2_184 |  -.1519497   .0621934    -2.44   0.015    -.2739404    -.029959
        dummy2_185 |  -.1530311   .0620534    -2.47   0.014    -.2747473    -.031315
        dummy2_186 |  -.1555518   .0620943    -2.51   0.012    -.2773481   -.0337554
        dummy2_187 |  -.1539379   .0620701    -2.48   0.013    -.2756866   -.0321891
        dummy2_188 |  -.1500702   .0620925    -2.42   0.016     -.271863   -.0282773
        dummy2_189 |  -.1474926   .0623434    -2.37   0.018    -.2697776   -.0252077
        dummy2_190 |  -.1484045   .0622509    -2.38   0.017    -.2705079   -.0263011
        dummy2_191 |  -.1547021    .062109    -2.49   0.013    -.2765272    -.032877
        dummy2_192 |   -.156511    .062179    -2.52   0.012    -.2784736   -.0345485
        dummy2_193 |  -.1561886   .0621338    -2.51   0.012    -.2780624   -.0343148
        dummy2_194 |  -.1550021   .0620382    -2.50   0.013    -.2766884   -.0333159
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |  -.1558004   .0620688    -2.51   0.012    -.2775467   -.0340541
        dummy2_198 |  -.1553513   .0620596    -2.50   0.012    -.2770797    -.033623
        dummy2_199 |   .1975917   .0571976     3.45   0.001     .0854002    .3097832
        dummy2_200 |    .217754   .0587678     3.71   0.000     .1024826    .3330254
        dummy2_201 |   .2002358     .05711     3.51   0.000     .0882161    .3122556
        dummy2_202 |   .2143758   .0586006     3.66   0.000     .0994324    .3293193
        dummy2_203 |   .1982706   .0571604     3.47   0.001     .0861521    .3103892
        dummy2_204 |   .1982993   .0570903     3.47   0.001     .0863181    .3102804
        dummy2_205 |   .2093741   .0573846     3.65   0.000     .0968157    .3219324
        dummy2_206 |   .2013062   .0571011     3.53   0.000     .0893039    .3133085
        dummy2_207 |   .2017697   .0571901     3.53   0.000      .089593    .3139465
        dummy2_208 |    .199696   .0571988     3.49   0.000     .0875022    .3118899
        dummy2_209 |   .2001572   .0570934     3.51   0.000       .08817    .3121444
        dummy2_210 |   .2006678   .0571152     3.51   0.000     .0886379    .3126978
        dummy2_211 |   .2184234   .0580631     3.76   0.000     .1045342    .3323125
        dummy2_212 |   .2021761   .0572761     3.53   0.000     .0898306    .3145215
        dummy2_213 |   .2001511   .0572109     3.50   0.000     .0879334    .3123688
        dummy2_214 |   .1974401   .0571226     3.46   0.001     .0853957    .3094845
        dummy2_215 |   .1972467   .0570856     3.46   0.001     .0852748    .3092186
        dummy2_216 |   .1974603   .0571024     3.46   0.001     .0854556    .3094651
        dummy2_217 |   .1977851   .0570329     3.47   0.001     .0859167    .3096536
        dummy2_218 |   .1973495   .0571113     3.46   0.001     .0853271    .3093719
        dummy2_219 |    .197904   .0570254     3.47   0.001     .0860502    .3097577
        dummy2_220 |   .1981448   .0568976     3.48   0.001     .0865417    .3097478
        dummy2_221 |   .0618652   .0574154     1.08   0.281    -.0507535    .1744839
        dummy2_222 |   .0613167   .0573725     1.07   0.285    -.0512178    .1738513
        dummy2_223 |    .063037   .0573132     1.10   0.272    -.0493814    .1754553
        dummy2_224 |   .0673499   .0575166     1.17   0.242    -.0454674    .1801672
        dummy2_225 |   .0640595   .0573535     1.12   0.264    -.0484378    .1765568
        dummy2_226 |   .0621737    .057337     1.08   0.278    -.0502914    .1746387
        dummy2_227 |   .0643406   .0572892     1.12   0.262    -.0480306    .1767119
        dummy2_228 |   .0643453    .057386     1.12   0.262    -.0482157    .1769063
        dummy2_229 |   .0628925   .0573221     1.10   0.273    -.0495433    .1753283
        dummy2_230 |    .061839   .0573622     1.08   0.281    -.0506755    .1743535
        dummy2_231 |    .063305   .0573232     1.10   0.270    -.0491329     .175743
        dummy2_232 |   .0644802   .0573506     1.12   0.261    -.0480114    .1769718
        dummy2_233 |   .0674671   .0576728     1.17   0.242    -.0456566    .1805907
        dummy2_234 |    .061123   .0576282     1.06   0.289     -.051913    .1741591
        dummy2_235 |   .0637952    .057379     1.11   0.266    -.0487522    .1763425
        dummy2_236 |   .0604783   .0573659     1.05   0.292    -.0520433    .1729999
        dummy2_237 |   .0608302   .0573794     1.06   0.289    -.0517178    .1733783
        dummy2_238 |   .0610822    .057315     1.07   0.287    -.0513397    .1735041
        dummy2_239 |   .0611836   .0573533     1.07   0.286    -.0513134    .1736806
        dummy2_240 |   .0609565   .0573418     1.06   0.288    -.0515179     .173431
        dummy2_241 |   .0598459   .0574758     1.04   0.298    -.0528914    .1725832
        dummy2_242 |    .061115   .0573866     1.06   0.287    -.0514473    .1736772
        dummy2_243 |   .1871939   .0572218     3.27   0.001     .0749548     .299433
        dummy2_244 |     .18884   .0572651     3.30   0.001     .0765159     .301164
        dummy2_245 |   .1882336    .057117     3.30   0.001     .0762001    .3002671
        dummy2_246 |   .1922815   .0572427     3.36   0.001     .0800015    .3045616
        dummy2_247 |   .1886993   .0571501     3.30   0.001     .0766009    .3007978
        dummy2_248 |   .1879914   .0571394     3.29   0.001     .0759141    .3000687
        dummy2_249 |   .1856325   .0587244     3.16   0.002     .0704462    .3008188
        dummy2_250 |   .1875612   .0572288     3.28   0.001     .0753084    .2998139
        dummy2_251 |    .188537   .0571336     3.30   0.001     .0764709     .300603
        dummy2_252 |   .1881905   .0571758     3.29   0.001     .0760417    .3003394
        dummy2_253 |   .1887613   .0571251     3.30   0.001      .076712    .3008106
        dummy2_254 |   .1890945   .0571353     3.31   0.001     .0770251    .3011639
        dummy2_255 |   .1893172   .0572755     3.31   0.001     .0769729    .3016615
        dummy2_256 |   .1880048   .0573078     3.28   0.001     .0755972    .3004125
        dummy2_257 |   .1903495   .0571878     3.33   0.001     .0781772    .3025219
        dummy2_258 |   .1865632   .0572275     3.26   0.001      .074313    .2988135
        dummy2_259 |   .1876915   .0571542     3.28   0.001      .075585     .299798
        dummy2_260 |   .1875325    .057117     3.28   0.001     .0754992    .2995659
        dummy2_261 |   .1880061   .0571343     3.29   0.001     .0759387    .3000735
        dummy2_262 |   .1875833   .0571337     3.28   0.001     .0755171    .2996496
        dummy2_263 |   .1859962   .0574056     3.24   0.001     .0733967    .2985957
        dummy2_264 |   .1880535   .0571141     3.29   0.001     .0760257    .3000812
             _cons |   .2949658   .0570963     5.17   0.000      .182973    .4069586
------------------------------------------------------------------------------------

. eststo table5_4

. reg CPIequalw tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.per108 l.per403 l.per404 l.per505 y_*  dummy*  if 
> sample4_1==1

      Source |       SS       df       MS              Number of obs =    1847
-------------+------------------------------           F(272,  1574) =   47.68
       Model |  17.3974332   272  .063961151           Prob > F      =  0.0000
    Residual |  2.11160693  1574  .001341555           R-squared     =  0.8918
-------------+------------------------------           Adj R-squared =  0.8731
       Total |  19.5090401  1846  .010568277           Root MSE      =  .03663

------------------------------------------------------------------------------------
         CPIequalw |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0104895   .0115443     0.91   0.364    -.0121543    .0331334
                   |
     tecnogapklems |
               L1. |  -.0002367   .0024885    -0.10   0.924    -.0051178    .0046445
                   |
         ind_trend |  -.0152336   .0147584    -1.03   0.302    -.0441818    .0137146
                   |
          tradelib |
               L1. |  -.0027766   .0022437    -1.24   0.216    -.0071775    .0016243
                   |
            per108 |
               L1. |    .008802   .0011324     7.77   0.000     .0065809    .0110231
                   |
            per403 |
               L1. |  -.0147019   .0012283   -11.97   0.000    -.0171111   -.0122926
                   |
            per404 |
               L1. |   .0058555   .0026773     2.19   0.029      .000604     .011107
                   |
            per505 |
               L1. |    .006147   .0027972     2.20   0.028     .0006604    .0116336
                   |
               y_1 |          0  (omitted)
               y_2 |          0  (omitted)
               y_3 |   -.009447   .0042861    -2.20   0.028     -.017854     -.00104
               y_4 |   -.020265     .00428    -4.73   0.000    -.0286601     -.01187
               y_5 |  -.0466753   .0042422   -11.00   0.000    -.0549962   -.0383544
               y_6 |  -.0372909   .0044775    -8.33   0.000    -.0460734   -.0285084
               y_7 |  -.0182304   .0043898    -4.15   0.000    -.0268408     -.00962
               y_8 |   .0042316   .0044947     0.94   0.347    -.0045846    .0130478
               y_9 |   .0083193   .0045948     1.81   0.070    -.0006931    .0173318
              y_10 |   .0156366   .0046861     3.34   0.001     .0064449    .0248283
              y_11 |   .0198507   .0046716     4.25   0.000     .0106875    .0290138
          dummy2_1 |   .1379646    .061184     2.25   0.024     .0179539    .2579752
          dummy2_2 |   .1385661   .0611757     2.27   0.024     .0185718    .2585605
          dummy2_3 |   .1399683   .0610095     2.29   0.022     .0202998    .2596368
          dummy2_4 |   .1429565   .0611527     2.34   0.020     .0230071    .2629058
          dummy2_5 |   .1385869   .0610551     2.27   0.023      .018829    .2583447
          dummy2_6 |   .1393806   .0610478     2.28   0.023     .0196371     .259124
          dummy2_7 |   .1436817   .0609995     2.36   0.019     .0240329    .2633305
          dummy2_8 |   .1448021   .0611635     2.37   0.018     .0248316    .2647725
          dummy2_9 |   .1415531   .0610585     2.32   0.021     .0217885    .2613177
         dummy2_10 |   .1404907   .0610913     2.30   0.022     .0206618    .2603195
         dummy2_11 |   .1411441   .0610418     2.31   0.021     .0214122    .2608759
         dummy2_12 |   .1466591   .0612885     2.39   0.017     .0264434    .2668748
         dummy2_13 |   .1552907   .0642195     2.42   0.016      .029326    .2812555
         dummy2_14 |   .1459991   .0630424     2.32   0.021     .0223432    .2696549
         dummy2_15 |   .1410319   .0610779     2.31   0.021     .0212293    .2608344
         dummy2_16 |   .1377422   .0611211     2.25   0.024     .0178549    .2576295
         dummy2_17 |   .1382501   .0610524     2.26   0.024     .0184975    .2580028
         dummy2_18 |   .1387124   .0610682     2.27   0.023     .0189289     .258496
         dummy2_19 |    .138154   .0610547     2.26   0.024     .0183969    .2579111
         dummy2_20 |   .1373275   .0611591     2.25   0.025     .0173656    .2572895
         dummy2_21 |   .1390532   .0611764     2.27   0.023     .0190574    .2590489
         dummy2_22 |   .1387539   .0610338     2.27   0.023     .0190377    .2584701
         dummy2_23 |   .0263483   .0586135     0.45   0.653    -.0886205    .1413171
         dummy2_24 |   .0332122   .0587651     0.57   0.572    -.0820538    .1484783
         dummy2_25 |   .0279874   .0585182     0.48   0.633    -.0867944    .1427692
         dummy2_26 |   .0312683   .0587467     0.53   0.595    -.0839618    .1464984
         dummy2_27 |   .0272006     .05863     0.46   0.643    -.0878006    .1422018
         dummy2_28 |   .0309864   .0587545     0.53   0.598    -.0842588    .1462316
         dummy2_29 |   .0274467   .0604929     0.45   0.650    -.0912084    .1461017
         dummy2_30 |   .0352616   .0588435     0.60   0.549    -.0801582    .1506815
         dummy2_31 |   .0351807   .0588911     0.60   0.550    -.0803326     .150694
         dummy2_32 |   .0272149    .058625     0.46   0.643    -.0877765    .1422062
         dummy2_33 |   .0301264   .0585426     0.51   0.607    -.0847033     .144956
         dummy2_34 |   .0300447   .0586077     0.51   0.608    -.0849127    .1450021
         dummy2_35 |   .0383299   .0593164     0.65   0.518    -.0780177    .1546775
         dummy2_36 |   .0336835   .0592587     0.57   0.570    -.0825508    .1499178
         dummy2_37 |    .028692   .0586646     0.49   0.625    -.0863771    .1437611
         dummy2_38 |   .0268683   .0588474     0.46   0.648    -.0885592    .1422958
         dummy2_39 |   .0260093   .0584793     0.44   0.657    -.0886961    .1407148
         dummy2_40 |   .0263388   .0585472     0.45   0.653    -.0884999    .1411776
         dummy2_41 |   .0260832   .0584134     0.45   0.655    -.0884931    .1406594
         dummy2_42 |   .0230791    .058873     0.39   0.695    -.0923987    .1385569
         dummy2_43 |   .0259192   .0587743     0.44   0.659    -.0893649    .1412032
         dummy2_44 |   .0263633   .0584149     0.45   0.652    -.0882159    .1409425
         dummy2_45 |  -.2079782   .0642471    -3.24   0.001     -.333997   -.0819594
         dummy2_46 |          0  (omitted)
         dummy2_47 |  -.2047835   .0640639    -3.20   0.001     -.330443    -.079124
         dummy2_48 |  -.1885104   .0621201    -3.03   0.002    -.3103573   -.0666634
         dummy2_49 |          0  (omitted)
         dummy2_50 |   -.193342   .0619736    -3.12   0.002    -.3149014   -.0717825
         dummy2_51 |  -.1914751   .0690535    -2.77   0.006    -.3269216   -.0560285
         dummy2_52 |  -.2020771   .0641924    -3.15   0.002    -.3279888   -.0761655
         dummy2_53 |  -.2047828   .0640753    -3.20   0.001    -.3304648   -.0791007
         dummy2_54 |  -.2057359   .0640993    -3.21   0.001     -.331465   -.0800068
         dummy2_55 |  -.2052131   .0640918    -3.20   0.001    -.3309275   -.0794987
         dummy2_56 |  -.2025659   .0640783    -3.16   0.002    -.3282536   -.0768781
         dummy2_57 |  -.1900856   .0621201    -3.06   0.002    -.3119325   -.0682388
         dummy2_58 |  -.1892938   .0620765    -3.05   0.002    -.3110552   -.0675324
         dummy2_59 |  -.2043901   .0641371    -3.19   0.001    -.3301932    -.078587
         dummy2_60 |  -.2081013   .0642141    -3.24   0.001    -.3340554   -.0821471
         dummy2_61 |  -.2077445   .0641444    -3.24   0.001    -.3335619   -.0819271
         dummy2_62 |  -.2067012   .0640425    -3.23   0.001    -.3323188   -.0810837
         dummy2_63 |  -.2072165   .0640928    -3.23   0.001    -.3329327   -.0815003
         dummy2_64 |  -.2085946   .0642416    -3.25   0.001    -.3346028   -.0825864
         dummy2_65 |  -.2068809   .0641088    -3.23   0.001    -.3326286   -.0811333
         dummy2_66 |  -.1949445   .0619746    -3.15   0.002     -.316506    -.073383
         dummy2_67 |   .0182245   .0591861     0.31   0.758    -.0978674    .1343164
         dummy2_68 |    .032563   .0600148     0.54   0.587    -.0851544    .1502803
         dummy2_69 |   .0191087   .0590917     0.32   0.746     -.096798    .1350155
         dummy2_70 |   .0259044   .0594754     0.44   0.663    -.0907549    .1425637
         dummy2_71 |   .0181752    .059119     0.31   0.759     -.097785    .1341354
         dummy2_72 |   .0180597   .0590996     0.31   0.760    -.0978625    .1339819
         dummy2_73 |    .015742   .0610527     0.26   0.797    -.1040112    .1354952
         dummy2_74 |   .0203674   .0591427     0.34   0.731    -.0956394    .1363742
         dummy2_75 |   .0184642   .0590974     0.31   0.755    -.0974536     .134382
         dummy2_76 |   .0176106    .059139     0.30   0.766    -.0983889    .1336101
         dummy2_77 |   .0185652   .0590941     0.31   0.753    -.0973462    .1344767
         dummy2_78 |   .0182273   .0591073     0.31   0.758    -.0977099    .1341646
         dummy2_79 |   .0195451   .0592636     0.33   0.742    -.0966989    .1357891
         dummy2_80 |   .0191737   .0593076     0.32   0.747    -.0971565    .1355039
         dummy2_81 |   .0191411   .0591485     0.32   0.746    -.0968772    .1351593
         dummy2_82 |   .0171014   .0591697     0.29   0.773    -.0989583    .1331611
         dummy2_83 |   .0167726   .0591301     0.28   0.777    -.0992094    .1327546
         dummy2_84 |   .0173704   .0590836     0.29   0.769    -.0985205    .1332613
         dummy2_85 |   .0169893   .0591034     0.29   0.774    -.0989405     .132919
         dummy2_86 |   .0169631   .0591046     0.29   0.774    -.0989689    .1328951
         dummy2_87 |   .0177506   .0592253     0.30   0.764    -.0984181    .1339194
         dummy2_88 |   .0171126   .0591005     0.29   0.772    -.0988113    .1330365
         dummy2_89 |   .1062431   .0578816     1.84   0.067    -.0072901    .2197763
         dummy2_90 |   .1397971   .0637818     2.19   0.029      .014691    .2649033
         dummy2_91 |   .1223399   .0623828     1.96   0.050    -.0000222    .2447019
         dummy2_92 |   .1283706   .0628161     2.04   0.041     .0051586    .2515826
         dummy2_93 |   .1236174   .0627964     1.97   0.049      .000444    .2467908
         dummy2_94 |   .1251935   .0626661     2.00   0.046     .0022758    .2481113
         dummy2_95 |   .1427948   .0677466     2.11   0.035     .0099117    .2756778
         dummy2_96 |   .1284056   .0627663     2.05   0.041     .0052913      .25152
         dummy2_97 |   .1288472    .062888     2.05   0.041     .0054942    .2522003
         dummy2_98 |    .122855   .0627052     1.96   0.050    -.0001395    .2458494
         dummy2_99 |   .1279188   .0627059     2.04   0.042      .004923    .2509146
        dummy2_100 |   .1343342   .0632391     2.12   0.034     .0102924     .258376
        dummy2_101 |   .1346624   .0629038     2.14   0.032     .0112784    .2580464
        dummy2_102 |   .1292288   .0627172     2.06   0.040     .0062108    .2522469
        dummy2_103 |   .1259229   .0629077     2.00   0.045     .0025312    .2493146
        dummy2_104 |   .1188974   .0591622     2.01   0.045     .0028524    .2349425
        dummy2_105 |   .1063212   .0579407     1.83   0.067    -.0073279    .2199704
        dummy2_106 |   .1065344   .0583764     1.82   0.068    -.0079694    .2210381
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .1101925   .0582892     1.89   0.059    -.0041401    .2245252
        dummy2_110 |          0  (omitted)
        dummy2_111 |  -.0321104   .0586011    -0.55   0.584    -.1470549    .0828341
        dummy2_112 |  -.0234505   .0586848    -0.40   0.690    -.1385592    .0916581
        dummy2_113 |  -.0299932   .0584922    -0.51   0.608    -.1447239    .0847376
        dummy2_114 |  -.0310936   .0585486    -0.53   0.595     -.145935    .0837478
        dummy2_115 |  -.0310017   .0585008    -0.53   0.596    -.1457495    .0837461
        dummy2_116 |  -.0309933    .058487    -0.53   0.596    -.1457139    .0837274
        dummy2_117 |  -.0317508   .0588444    -0.54   0.590    -.1471724    .0836708
        dummy2_118 |  -.0269104   .0586231    -0.46   0.646     -.141898    .0880772
        dummy2_119 |  -.0309797   .0584862    -0.53   0.596    -.1456986    .0837393
        dummy2_120 |  -.0320515   .0585436    -0.55   0.584    -.1468832    .0827801
        dummy2_121 |  -.0305381   .0584947    -0.52   0.602    -.1452738    .0841976
        dummy2_122 |  -.0306536   .0585009    -0.52   0.600    -.1454015    .0840943
        dummy2_123 |  -.0293291   .0586629    -0.50   0.617    -.1443948    .0857367
        dummy2_124 |  -.0274519   .0588041    -0.47   0.641    -.1427946    .0878908
        dummy2_125 |  -.0318002   .0585351    -0.54   0.587    -.1466152    .0830149
        dummy2_126 |  -.0322087   .0585573    -0.55   0.582    -.1470673    .0826499
        dummy2_127 |  -.0324589    .058525    -0.55   0.579    -.1472541    .0823363
        dummy2_128 |  -.0319114   .0584904    -0.55   0.585    -.1466387    .0828159
        dummy2_129 |  -.0323102   .0584885    -0.55   0.581    -.1470338    .0824134
        dummy2_130 |  -.0323215   .0584817    -0.55   0.581    -.1470318    .0823888
        dummy2_131 |  -.0316675   .0585754    -0.54   0.589    -.1465615    .0832265
        dummy2_132 |  -.0321101   .0584959    -0.55   0.583    -.1468482     .082628
        dummy2_133 |  -.0459362   .0475095    -0.97   0.334    -.1391249    .0472524
        dummy2_134 |  -.0218046   .0632281    -0.34   0.730    -.1458248    .1022157
        dummy2_135 |  -.0341254   .0375329    -0.91   0.363     -.107745    .0394943
        dummy2_136 |  -.0488201   .0542459    -0.90   0.368     -.155222    .0575818
        dummy2_137 |  -.0539068   .0566427    -0.95   0.341    -.1650099    .0571963
        dummy2_138 |  -.0447871   .0463412    -0.97   0.334    -.1356841    .0461099
        dummy2_139 |          0  (omitted)
        dummy2_140 |  -.0428604   .0457891    -0.94   0.349    -.1326745    .0469537
        dummy2_141 |  -.0511885    .052075    -0.98   0.326    -.1533321    .0509551
        dummy2_142 |  -.0527217   .0533849    -0.99   0.324    -.1574346    .0519913
        dummy2_143 |  -.0381233   .0406276    -0.94   0.348    -.1178133    .0415667
        dummy2_144 |  -.0404629   .0441261    -0.92   0.359     -.127015    .0460893
        dummy2_145 |  -.0257391   .0312997    -0.82   0.411    -.0871325    .0356544
        dummy2_146 |  -.0386241   .0424149    -0.91   0.363    -.1218197    .0445715
        dummy2_147 |  -.0524294   .0542876    -0.97   0.334    -.1589129    .0540542
        dummy2_148 |  -.0402006   .0422273    -0.95   0.341    -.1230282    .0426271
        dummy2_149 |  -.0037252   .0167105    -0.22   0.824    -.0365024    .0290519
        dummy2_150 |  -.0346413   .0375633    -0.92   0.357    -.1083207    .0390381
        dummy2_151 |  -.0242913   .0284861    -0.85   0.394    -.0801659    .0315834
        dummy2_152 |   -.041394   .0431604    -0.96   0.338    -.1260518    .0432639
        dummy2_153 |  -.0122435   .0208771    -0.59   0.558    -.0531934    .0287063
        dummy2_154 |          0  (omitted)
        dummy2_155 |   .1563955    .059436     2.63   0.009     .0398134    .2729775
        dummy2_156 |   .0829128   .0683346     1.21   0.225    -.0511235    .2169492
        dummy2_157 |   .1579921   .0593507     2.66   0.008     .0415773    .2744068
        dummy2_158 |   .1725911   .0609109     2.83   0.005     .0531161     .292066
        dummy2_159 |   .1601109   .0594387     2.69   0.007     .0435236    .2766983
        dummy2_160 |   .1566201   .0593647     2.64   0.008      .040178    .2730623
        dummy2_161 |   .1497081   .0601299     2.49   0.013      .031765    .2676512
        dummy2_162 |   .1609269   .0594698     2.71   0.007     .0442786    .2775753
        dummy2_163 |   .1612765   .0594724     2.71   0.007     .0446229      .27793
        dummy2_164 |   .1568601   .0593937     2.64   0.008     .0403609    .2733593
        dummy2_165 |   .1585998   .0594106     2.67   0.008     .0420676    .2751321
        dummy2_166 |   .1603518   .0594575     2.70   0.007     .0437276    .2769761
        dummy2_167 |     .18248   .0635735     2.87   0.004     .0577824    .3071776
        dummy2_168 |   .1794268    .060392     2.97   0.003     .0609695    .2978842
        dummy2_169 |   .1567994   .0594052     2.64   0.008     .0402778    .2733209
        dummy2_170 |   .1543246   .0594214     2.60   0.009     .0377712     .270878
        dummy2_171 |   .1546643    .059367     2.61   0.009     .0382177    .2711109
        dummy2_172 |   .1550034   .0593328     2.61   0.009     .0386239     .271383
        dummy2_173 |   .1545911   .0593753     2.60   0.009     .0381281    .2710542
        dummy2_174 |   .1537464   .0594702     2.59   0.010     .0370972    .2703956
        dummy2_175 |   .1550509   .0593869     2.61   0.009     .0385651    .2715367
        dummy2_176 |   .1548682   .0593515     2.61   0.009      .038452    .2712845
        dummy2_177 |  -.1119628   .0636087    -1.76   0.079    -.2367295    .0128038
        dummy2_178 |  -.0846144   .0663068    -1.28   0.202    -.2146734    .0454447
        dummy2_179 |  -.1088717   .0634228    -1.72   0.086    -.2332737    .0155303
        dummy2_180 |   -.107875   .0634618    -1.70   0.089    -.2323535    .0166035
        dummy2_181 |   -.109526   .0634491    -1.73   0.085    -.2339796    .0149276
        dummy2_182 |  -.1099474   .0634324    -1.73   0.083    -.2343684    .0144736
        dummy2_183 |  -.1062042   .0633694    -1.68   0.094    -.2305015     .018093
        dummy2_184 |  -.1063635   .0635636    -1.67   0.094    -.2310417    .0183147
        dummy2_185 |  -.1086816   .0634308    -1.71   0.087    -.2330994    .0157363
        dummy2_186 |  -.1108107   .0634694    -1.75   0.081    -.2353042    .0136828
        dummy2_187 |  -.1094962   .0634471    -1.73   0.085     -.233946    .0149536
        dummy2_188 |  -.1057405   .0634712    -1.67   0.096    -.2302376    .0187566
        dummy2_189 |  -.1030373   .0637282    -1.62   0.106    -.2280384    .0219638
        dummy2_190 |  -.1034525   .0636285    -1.63   0.104     -.228258     .021353
        dummy2_191 |  -.1101289    .063486    -1.73   0.083    -.2346548     .014397
        dummy2_192 |  -.1122545   .0635609    -1.77   0.078    -.2369274    .0124184
        dummy2_193 |  -.1117083   .0635124    -1.76   0.079    -.2362861    .0128694
        dummy2_194 |  -.1108056   .0634166    -1.75   0.081    -.2351954    .0135842
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |  -.1110206   .0634428    -1.75   0.080    -.2354618    .0134206
        dummy2_198 |  -.1110631   .0634378    -1.75   0.080    -.2354945    .0133684
        dummy2_199 |   .1988925     .05865     3.39   0.001     .0838521    .3139329
        dummy2_200 |   .2201697   .0602597     3.65   0.000      .101972    .3383674
        dummy2_201 |   .2009386   .0585604     3.43   0.001     .0860741    .3158032
        dummy2_202 |   .2155615   .0600887     3.59   0.000     .0976992    .3334239
        dummy2_203 |   .1990731    .058612     3.40   0.001     .0841073    .3140389
        dummy2_204 |   .1989229   .0585402     3.40   0.001     .0840979    .3137479
        dummy2_205 |    .211552   .0588415     3.60   0.000      .096136    .3269679
        dummy2_206 |   .2020253   .0585513     3.45   0.001     .0871786     .316872
        dummy2_207 |   .2025129   .0586425     3.45   0.001     .0874874    .3175385
        dummy2_208 |   .2003851   .0586514     3.42   0.001      .085342    .3154282
        dummy2_209 |    .200867   .0585434     3.43   0.001     .0860358    .3156982
        dummy2_210 |   .2015199   .0585657     3.44   0.001     .0866449    .3163948
        dummy2_211 |   .2192902   .0595376     3.68   0.000     .1025088    .3360715
        dummy2_212 |   .2035511   .0587305     3.47   0.001     .0883528    .3187493
        dummy2_213 |   .2016646   .0586637     3.44   0.001     .0865975    .3167318
        dummy2_214 |   .1983729   .0585732     3.39   0.001     .0834832    .3132627
        dummy2_215 |   .1982806   .0585353     3.39   0.001     .0834652     .313096
        dummy2_216 |   .1987172   .0585524     3.39   0.001     .0838683    .3135661
        dummy2_217 |   .1984466   .0584813     3.39   0.001     .0837371     .313156
        dummy2_218 |   .1984185   .0585617     3.39   0.001     .0835513    .3132856
        dummy2_219 |   .1987906   .0584736     3.40   0.001     .0840963    .3134849
        dummy2_220 |   .1987319   .0583426     3.41   0.001     .0842946    .3131693
        dummy2_221 |   .0266472   .0587383     0.45   0.650    -.0885663    .1418607
        dummy2_222 |   .0270344   .0587013     0.46   0.645    -.0881066    .1421753
        dummy2_223 |   .0273602   .0586297     0.47   0.641    -.0876404    .1423608
        dummy2_224 |    .031613   .0588383     0.54   0.591    -.0837967    .1470228
        dummy2_225 |   .0280431   .0586684     0.48   0.633    -.0870334    .1431196
        dummy2_226 |   .0262915   .0586526     0.45   0.654     -.088754    .1413369
        dummy2_227 |     .03038   .0586181     0.52   0.604    -.0845978    .1453579
        dummy2_228 |   .0299966   .0587147     0.51   0.610    -.0851706    .1451637
        dummy2_229 |   .0272272    .058639     0.46   0.642    -.0877915    .1422459
        dummy2_230 |   .0260782   .0586795     0.44   0.657    -.0890199    .1411763
        dummy2_231 |   .0276427   .0586401     0.47   0.637    -.0873783    .1426637
        dummy2_232 |   .0288578   .0586685     0.49   0.623    -.0862189    .1439346
        dummy2_233 |   .0320743   .0590015     0.54   0.587    -.0836555    .1478041
        dummy2_234 |   .0252171   .0589516     0.43   0.669    -.0904149    .1408492
        dummy2_235 |   .0278938   .0586956     0.48   0.635    -.0872359    .1430235
        dummy2_236 |   .0253168   .0586878     0.43   0.666    -.0897978    .1404314
        dummy2_237 |   .0250744   .0586971     0.43   0.669    -.0900584    .1402071
        dummy2_238 |   .0256184   .0586333     0.44   0.662    -.0893891    .1406259
        dummy2_239 |   .0252511    .058669     0.43   0.667    -.0898264    .1403287
        dummy2_240 |   .0252986   .0586593     0.43   0.666      -.08976    .1403571
        dummy2_241 |   .0260535   .0588111     0.44   0.658     -.089303    .1414099
        dummy2_242 |   .0254031   .0587049     0.43   0.665    -.0897448    .1405511
        dummy2_243 |    .144485   .0584754     2.47   0.014     .0297872    .2591828
        dummy2_244 |   .1483039   .0585397     2.53   0.011     .0334799     .263128
        dummy2_245 |   .1457249   .0583694     2.50   0.013      .031235    .2602148
        dummy2_246 |   .1494234   .0584955     2.55   0.011     .0346862    .2641606
        dummy2_247 |   .1457414   .0583993     2.50   0.013     .0311929    .2602899
        dummy2_248 |    .145181   .0583896     2.49   0.013     .0306515    .2597105
        dummy2_249 |   .1415799   .0600088     2.36   0.018     .0238744    .2592854
        dummy2_250 |   .1465912   .0584985     2.51   0.012     .0318481    .2613344
        dummy2_251 |   .1456763   .0583832     2.50   0.013     .0311593    .2601933
        dummy2_252 |   .1452174   .0584255     2.49   0.013     .0306174    .2598175
        dummy2_253 |   .1459749   .0583751     2.50   0.012     .0314738    .2604759
        dummy2_254 |   .1462146   .0583847     2.50   0.012     .0316946    .2607347
        dummy2_255 |   .1467246   .0585317     2.51   0.012     .0319164    .2615328
        dummy2_256 |   .1447533   .0585587     2.47   0.014      .029892    .2596145
        dummy2_257 |   .1472973   .0584371     2.52   0.012     .0326745    .2619201
        dummy2_258 |   .1451485   .0584932     2.48   0.013     .0304158    .2598813
        dummy2_259 |   .1447718   .0584038     2.48   0.013     .0302143    .2593293
        dummy2_260 |   .1454085   .0583729     2.49   0.013     .0309117    .2599054
        dummy2_261 |   .1449534   .0583821     2.48   0.013     .0304385    .2594682
        dummy2_262 |    .145037   .0583862     2.48   0.013      .030514      .25956
        dummy2_263 |   .1459444   .0586885     2.49   0.013     .0308286    .2610602
        dummy2_264 |     .14515   .0583627     2.49   0.013     .0306732    .2596268
             _cons |   .3828518   .0573625     6.67   0.000     .2703368    .4953668
------------------------------------------------------------------------------------

. eststo table5_5

. reg pmr tfpleadershipklems l.tecnogapklems ind_trend l.tradelib l.per108 l.per403 l.per404 l.per505 y_*  dummy*  if sample
> 4_1==1

      Source |       SS       df       MS              Number of obs =    1847
-------------+------------------------------           F(272,  1574) =  212.61
       Model |  490.998004   272  1.80513972           Prob > F      =  0.0000
    Residual |   13.363994  1574  .008490466           R-squared     =  0.9735
-------------+------------------------------           Adj R-squared =  0.9689
       Total |  504.361998  1846   .27321885           Root MSE      =  .09214

------------------------------------------------------------------------------------
               pmr |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0025153   .0290422     0.09   0.931    -.0544502    .0594808
                   |
     tecnogapklems |
               L1. |  -.0109456   .0062604    -1.75   0.081    -.0232253     .001334
                   |
         ind_trend |   .0375129    .037128     1.01   0.312    -.0353126    .1103384
                   |
          tradelib |
               L1. |   .0000807   .0056445     0.01   0.989    -.0109908    .0111522
                   |
            per108 |
               L1. |  -.0063781   .0028487    -2.24   0.025    -.0119658   -.0007904
                   |
            per403 |
               L1. |  -.0680056     .00309   -22.01   0.000    -.0740666   -.0619445
                   |
            per404 |
               L1. |  -.0442534   .0067354    -6.57   0.000    -.0574647   -.0310422
                   |
            per505 |
               L1. |   .2708733   .0070369    38.49   0.000     .2570706     .284676
                   |
               y_1 |          0  (omitted)
               y_2 |          0  (omitted)
               y_3 |   .0507481   .0107825     4.71   0.000     .0295984    .0718977
               y_4 |    .074941   .0107672     6.96   0.000     .0538215    .0960605
               y_5 |  -.2171804   .0106721   -20.35   0.000    -.2381134   -.1962474
               y_6 |  -.1928506   .0112642   -17.12   0.000     -.214945   -.1707563
               y_7 |  -.1953515   .0110434   -17.69   0.000    -.2170129   -.1736901
               y_8 |  -.2225094   .0113073   -19.68   0.000    -.2446884   -.2003304
               y_9 |  -.5340451   .0115591   -46.20   0.000    -.5567179   -.5113723
              y_10 |   -.523764    .011789   -44.43   0.000    -.5468877   -.5006402
              y_11 |  -.5085843   .0117523   -43.28   0.000    -.5316362   -.4855324
          dummy2_1 |  -.3487221   .1539215    -2.27   0.024    -.6506348   -.0468095
          dummy2_2 |  -.3396472   .1539006    -2.21   0.027    -.6415189   -.0377755
          dummy2_3 |  -.3521787   .1534826    -2.29   0.022    -.6532306   -.0511268
          dummy2_4 |  -.3496685   .1538429    -2.27   0.023    -.6514271     -.04791
          dummy2_5 |  -.3522802   .1535972    -2.29   0.022    -.6535569   -.0510035
          dummy2_6 |  -.3473499   .1535788    -2.26   0.024    -.6485905   -.0461093
          dummy2_7 |  -.3330113   .1534574    -2.17   0.030    -.6340137   -.0320089
          dummy2_8 |  -.3413923   .1538699    -2.22   0.027    -.6432038   -.0395808
          dummy2_9 |  -.3497774   .1536059    -2.28   0.023    -.6510711   -.0484837
         dummy2_10 |  -.3512048   .1536883    -2.29   0.022    -.6526602   -.0497495
         dummy2_11 |  -.3502135   .1535639    -2.28   0.023    -.6514248   -.0490022
         dummy2_12 |  -.3534824   .1541844    -2.29   0.022    -.6559108   -.0510539
         dummy2_13 |  -.3566528    .161558    -2.21   0.027    -.6735443   -.0397614
         dummy2_14 |  -.3443585   .1585967    -2.17   0.030    -.6554416   -.0332755
         dummy2_15 |  -.3527766   .1536546    -2.30   0.022    -.6541658   -.0513873
         dummy2_16 |  -.3484511   .1537633    -2.27   0.024    -.6500535   -.0468487
         dummy2_17 |  -.3485216   .1535905    -2.27   0.023    -.6497852    -.047258
         dummy2_18 |  -.3426352   .1536302    -2.23   0.026    -.6439766   -.0412938
         dummy2_19 |  -.3498525   .1535963    -2.28   0.023    -.6511274   -.0485776
         dummy2_20 |  -.3494374    .153859    -2.27   0.023    -.6512277   -.0476472
         dummy2_21 |  -.3333391   .1539024    -2.17   0.030    -.6352144   -.0314639
         dummy2_22 |  -.3443033   .1535438    -2.24   0.025    -.6454752   -.0431314
         dummy2_23 |   .8734688    .147455     5.92   0.000     .5842399    1.162698
         dummy2_24 |   .8865563   .1478362     6.00   0.000     .5965796    1.176533
         dummy2_25 |   .8726581   .1472152     5.93   0.000     .5838996    1.161417
         dummy2_26 |   .8794805   .1477901     5.95   0.000     .5895943    1.169367
         dummy2_27 |   .8758906   .1474965     5.94   0.000     .5865803    1.165201
         dummy2_28 |   .8584868   .1478095     5.81   0.000     .5685625    1.148411
         dummy2_29 |   .8998483   .1521829     5.91   0.000     .6013459    1.198351
         dummy2_30 |   .8774291   .1480335     5.93   0.000     .5870656    1.167793
         dummy2_31 |    .852778   .1481533     5.76   0.000     .5621795    1.143377
         dummy2_32 |   .8757816   .1474839     5.94   0.000      .586496    1.165067
         dummy2_33 |   .8750204   .1472765     5.94   0.000     .5861416    1.163899
         dummy2_34 |   .8778828   .1474404     5.95   0.000     .5886827    1.167083
         dummy2_35 |   .8556847   .1492233     5.73   0.000     .5629873    1.148382
         dummy2_36 |   .8675407    .149078     5.82   0.000     .5751282    1.159953
         dummy2_37 |   .8767484   .1475836     5.94   0.000     .5872673    1.166229
         dummy2_38 |    .871885   .1480432     5.89   0.000     .5815023    1.162268
         dummy2_39 |   .8748758   .1471172     5.95   0.000     .5863095    1.163442
         dummy2_40 |   .8751002   .1472882     5.94   0.000     .5861986    1.164002
         dummy2_41 |   .8673651   .1469515     5.90   0.000     .5791239    1.155606
         dummy2_42 |   .8594163   .1481078     5.80   0.000     .5689069    1.149926
         dummy2_43 |   .8749454   .1478593     5.92   0.000     .5849234    1.164967
         dummy2_44 |   .8731797   .1469553     5.94   0.000      .584931    1.161428
         dummy2_45 |   .5400562   .1616273     3.34   0.001     .2230286    .8570837
         dummy2_46 |          0  (omitted)
         dummy2_47 |   .5435313   .1611665     3.37   0.001     .2274077    .8596549
         dummy2_48 |   .5508873   .1562766     3.53   0.000     .2443551    .8574196
         dummy2_49 |          0  (omitted)
         dummy2_50 |   .5522336   .1559079     3.54   0.000     .2464245    .8580427
         dummy2_51 |   .5587567    .173719     3.22   0.001     .2180117    .8995016
         dummy2_52 |   .5456609   .1614898     3.38   0.001      .228903    .8624187
         dummy2_53 |   .5368276   .1611954     3.33   0.001     .2206473    .8530078
         dummy2_54 |   .5393232   .1612557     3.34   0.001     .2230245    .8556218
         dummy2_55 |   .5365957   .1612369     3.33   0.001      .220334    .8528574
         dummy2_56 |   .5381698   .1612028     3.34   0.001      .221975    .8543645
         dummy2_57 |   .5498134   .1562765     3.52   0.000     .2432813    .8563455
         dummy2_58 |   .5528665   .1561669     3.54   0.000     .2465495    .8591836
         dummy2_59 |   .5377491   .1613506     3.33   0.001     .2212643    .8542338
         dummy2_60 |   .5437021   .1615444     3.37   0.001     .2268372     .860567
         dummy2_61 |   .5360389    .161369     3.32   0.001      .219518    .8525597
         dummy2_62 |   .5394859   .1611127     3.35   0.001     .2234678     .855504
         dummy2_63 |   .5366268   .1612392     3.33   0.001     .2203606     .852893
         dummy2_64 |   .5358591   .1616137     3.32   0.001     .2188583      .85286
         dummy2_65 |   .5478092   .1612795     3.40   0.001     .2314639    .8641545
         dummy2_66 |   .5499686   .1559105     3.53   0.000     .2441544    .8557828
         dummy2_67 |   .1711069   .1488954     1.15   0.251    -.1209473    .4631612
         dummy2_68 |   .1822704   .1509802     1.21   0.228     -.113873    .4784138
         dummy2_69 |   .1741046   .1486579     1.17   0.242    -.1174838     .465693
         dummy2_70 |   .1654137   .1496231     1.11   0.269    -.1280678    .4588953
         dummy2_71 |   .1637655   .1487265     1.10   0.271    -.1279575    .4554884
         dummy2_72 |   .1679737   .1486778     1.13   0.259    -.1236537     .459601
         dummy2_73 |   .2461404   .1535913     1.60   0.109    -.0551247    .5474055
         dummy2_74 |    .180883   .1487863     1.22   0.224    -.1109571    .4727232
         dummy2_75 |   .1659856   .1486722     1.12   0.264    -.1256308    .4576019
         dummy2_76 |   .1674548   .1487769     1.13   0.261     -.124367    .4592766
         dummy2_77 |   .1656729    .148664     1.11   0.265    -.1259273    .4572732
         dummy2_78 |     .16551   .1486971     1.11   0.266    -.1261553    .4571752
         dummy2_79 |   .1665568   .1490905     1.12   0.264    -.1258801    .4589937
         dummy2_80 |     .17369   .1492011     1.16   0.245    -.1189637    .4663438
         dummy2_81 |   .1644675   .1488009     1.11   0.269    -.1274014    .4563364
         dummy2_82 |   .1780116   .1488541     1.20   0.232    -.1139617    .4699849
         dummy2_83 |   .1667841   .1487545     1.12   0.262    -.1249937    .4585618
         dummy2_84 |   .1727157   .1486377     1.16   0.245     -.118833    .4642643
         dummy2_85 |   .1668811   .1486874     1.12   0.262    -.1247652    .4585274
         dummy2_86 |    .166848   .1486903     1.12   0.262     -.124804       .4585
         dummy2_87 |   .1868181    .148994     1.25   0.210    -.1054295    .4790657
         dummy2_88 |   .1656523     .14868     1.11   0.265    -.1259793    .4572839
         dummy2_89 |   .7889307   .1456138     5.42   0.000     .5033133    1.074548
         dummy2_90 |   .8099231   .1604568     5.05   0.000     .4951916    1.124655
         dummy2_91 |   .7357608   .1569373     4.69   0.000     .4279327    1.043589
         dummy2_92 |   .7417522   .1580274     4.69   0.000     .4317857    1.051719
         dummy2_93 |   .7363317   .1579779     4.66   0.000     .4264624    1.046201
         dummy2_94 |    .732558     .15765     4.65   0.000     .4233318    1.041784
         dummy2_95 |   .7554173   .1704311     4.43   0.000     .4211213    1.089713
         dummy2_96 |   .7379834   .1579021     4.67   0.000     .4282627    1.047704
         dummy2_97 |   .7351639   .1582083     4.65   0.000     .4248427    1.045485
         dummy2_98 |   .7303994   .1577484     4.63   0.000     .4209804    1.039818
         dummy2_99 |   .7333033   .1577501     4.65   0.000     .4238808    1.042726
        dummy2_100 |   .7372181   .1590917     4.63   0.000     .4251641    1.049272
        dummy2_101 |   .7361962    .158248     4.65   0.000     .4257972    1.046595
        dummy2_102 |   .7283489   .1577787     4.62   0.000     .4188704    1.037827
        dummy2_103 |    .739232   .1582579     4.67   0.000     .4288135     1.04965
        dummy2_104 |   .7678827   .1488353     5.16   0.000     .4759463    1.059819
        dummy2_105 |   .7899493   .1457625     5.42   0.000     .5040403    1.075858
        dummy2_106 |   .7959393   .1468585     5.42   0.000     .5078805    1.083998
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .7843531   .1466391     5.35   0.000     .4967247    1.071982
        dummy2_110 |          0  (omitted)
        dummy2_111 |   .5739003   .1474238     3.89   0.000     .2847327    .8630679
        dummy2_112 |   .5738439   .1476343     3.89   0.000     .2842633    .8634246
        dummy2_113 |   .5750939   .1471497     3.91   0.000     .2864639     .863724
        dummy2_114 |   .5725906   .1472915     3.89   0.000     .2836823    .8614988
        dummy2_115 |   .5716098   .1471715     3.88   0.000     .2829371    .8602826
        dummy2_116 |    .571419   .1471367     3.88   0.000     .2828145    .8600236
        dummy2_117 |   .6062492   .1480357     4.10   0.000     .3158811    .8966172
        dummy2_118 |   .5833364   .1474791     3.96   0.000     .2940602    .8726125
        dummy2_119 |   .5716944   .1471346     3.89   0.000      .283094    .8602948
        dummy2_120 |   .5726707    .147279     3.89   0.000     .2837869    .8615545
        dummy2_121 |   .5731131    .147156     3.89   0.000     .2844707    .8617555
        dummy2_122 |    .572513   .1471716     3.89   0.000     .2838399    .8611861
        dummy2_123 |    .571929   .1475793     3.88   0.000     .2824564    .8614016
        dummy2_124 |   .5667345   .1479345     3.83   0.000     .2765651    .8569039
        dummy2_125 |   .5715805   .1472578     3.88   0.000     .2827384    .8604226
        dummy2_126 |   .5766924   .1473136     3.91   0.000     .2877409     .865644
        dummy2_127 |   .5707001   .1472323     3.88   0.000      .281908    .8594922
        dummy2_128 |   .5742872   .1471452     3.90   0.000     .2856659    .8629085
        dummy2_129 |   .5677828   .1471405     3.86   0.000     .2791708    .8563948
        dummy2_130 |   .5679855   .1471234     3.86   0.000      .279407    .8565641
        dummy2_131 |    .582073   .1473591     3.95   0.000     .2930323    .8711137
        dummy2_132 |   .5702741   .1471591     3.88   0.000     .2816255    .8589226
        dummy2_133 |   .1190366   .1195205     1.00   0.319    -.1153995    .3534727
        dummy2_134 |   .1496621   .1590641     0.94   0.347    -.1623376    .4616619
        dummy2_135 |   .0895181    .094422     0.95   0.343    -.0956881    .2747243
        dummy2_136 |   .1214535   .1364674     0.89   0.374    -.1462235    .3891305
        dummy2_137 |   .1347698    .142497     0.95   0.344     -.144734    .4142737
        dummy2_138 |   .1110997   .1165813     0.95   0.341    -.1175714    .3397708
        dummy2_139 |          0  (omitted)
        dummy2_140 |   .1223312   .1151924     1.06   0.288    -.1036155     .348278
        dummy2_141 |   .1258631   .1310058     0.96   0.337    -.1311012    .3828274
        dummy2_142 |   .1290423   .1343012     0.96   0.337    -.1343858    .3924703
        dummy2_143 |   .0944546   .1022076     0.92   0.356    -.1060228     .294932
        dummy2_144 |   .1047248   .1110087     0.94   0.346    -.1130158    .3224653
        dummy2_145 |   .0687813   .0787411     0.87   0.383    -.0856672    .2232298
        dummy2_146 |   .1000408   .1067038     0.94   0.349    -.1092557    .3093373
        dummy2_147 |    .130369   .1365721     0.95   0.340    -.1375133    .3982514
        dummy2_148 |   .1075974   .1062318     1.01   0.311    -.1007734    .3159682
        dummy2_149 |   .0046707   .0420388     0.11   0.912    -.0777873    .0871287
        dummy2_150 |   .0917487   .0944986     0.97   0.332    -.0936076     .277105
        dummy2_151 |   .0546735   .0716628     0.76   0.446    -.0858911    .1952382
        dummy2_152 |   .1011479   .1085792     0.93   0.352    -.1118272    .3141229
        dummy2_153 |   .0478812   .0525209     0.91   0.362     -.055137    .1508994
        dummy2_154 |          0  (omitted)
        dummy2_155 |  -.1441219   .1495241    -0.96   0.335    -.4374092    .1491655
        dummy2_156 |  -.2383549   .1719104    -1.39   0.166    -.5755523    .0988426
        dummy2_157 |  -.1496321   .1493095    -1.00   0.316    -.4424985    .1432343
        dummy2_158 |  -.1507978   .1532344    -0.98   0.325    -.4513629    .1497673
        dummy2_159 |  -.1459304   .1495309    -0.98   0.329     -.439231    .1473702
        dummy2_160 |  -.1495308   .1493446    -1.00   0.317    -.4424662    .1434046
        dummy2_161 |  -.1523775   .1512697    -1.01   0.314    -.4490888    .1443338
        dummy2_162 |  -.1399969   .1496091    -0.94   0.350     -.433451    .1534572
        dummy2_163 |  -.1488426   .1496158    -0.99   0.320    -.4423098    .1446245
        dummy2_164 |  -.1459589   .1494178    -0.98   0.329    -.4390377    .1471199
        dummy2_165 |    -.14955   .1494602    -1.00   0.317     -.442712     .143612
        dummy2_166 |  -.1478912   .1495782    -0.99   0.323    -.4412847    .1455024
        dummy2_167 |  -.1418878   .1599328    -0.89   0.375    -.4555916    .1718159
        dummy2_168 |  -.1418706   .1519292    -0.93   0.351    -.4398756    .1561344
        dummy2_169 |  -.1497851   .1494465    -1.00   0.316    -.4429203      .14335
        dummy2_170 |  -.1488163   .1494873    -1.00   0.320    -.4420315    .1443989
        dummy2_171 |  -.1482856   .1493504    -0.99   0.321    -.4412323     .144661
        dummy2_172 |  -.1472488   .1492644    -0.99   0.324    -.4400267    .1455292
        dummy2_173 |  -.1480333   .1493714    -0.99   0.322    -.4410213    .1449546
        dummy2_174 |  -.1493765   .1496102    -1.00   0.318    -.4428327    .1440797
        dummy2_175 |  -.1383653   .1494006    -0.93   0.355    -.4314104    .1546799
        dummy2_176 |   -.146864   .1493114    -0.98   0.325    -.4397343    .1460062
        dummy2_177 |   .5555563   .1600214     3.47   0.001     .2416788    .8694337
        dummy2_178 |   .5685905   .1668092     3.41   0.001     .2413988    .8957821
        dummy2_179 |   .5599266   .1595537     3.51   0.000     .2469665    .8728866
        dummy2_180 |   .5595813   .1596518     3.51   0.000     .2464287    .8727339
        dummy2_181 |   .5548504   .1596198     3.48   0.001     .2417606    .8679402
        dummy2_182 |   .5546968    .159578     3.48   0.001     .2416889    .8677046
        dummy2_183 |   .5579939   .1594194     3.50   0.000     .2452973    .8706906
        dummy2_184 |   .5651215   .1599079     3.53   0.000     .2514666    .8787764
        dummy2_185 |   .5531621    .159574     3.47   0.001     .2401621     .866162
        dummy2_186 |   .5578521    .159671     3.49   0.000     .2446619    .8710423
        dummy2_187 |   .5543596    .159615     3.47   0.001     .2412792    .8674399
        dummy2_188 |   .5520396   .1596756     3.46   0.001     .2388402    .8652389
        dummy2_189 |   .5524008    .160322     3.45   0.001     .2379336     .866868
        dummy2_190 |   .5576848   .1600712     3.48   0.001     .2437096    .8716601
        dummy2_191 |   .5558775   .1597126     3.48   0.001     .2426056    .8691494
        dummy2_192 |   .5532513   .1599011     3.46   0.001     .2396097    .8668928
        dummy2_193 |   .5554447    .159779     3.48   0.001     .2420426    .8688469
        dummy2_194 |   .5523237    .159538     3.46   0.001     .2393943    .8652532
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |   .5583675    .159604     3.50   0.000     .2453087    .8714262
        dummy2_198 |   .5533223   .1595914     3.47   0.001     .2402881    .8663564
        dummy2_199 |   .0278834   .1475468     0.19   0.850    -.2615256    .3172924
        dummy2_200 |   .0333029   .1515963     0.22   0.826     -.264049    .3306548
        dummy2_201 |   .0211543   .1473213     0.14   0.886    -.2678123    .3101209
        dummy2_202 |     .02143   .1511661     0.14   0.887    -.2750782    .3179382
        dummy2_203 |   .0227579   .1474512     0.15   0.877    -.2664635    .3119793
        dummy2_204 |   .0209432   .1472706     0.14   0.887     -.267924    .3098103
        dummy2_205 |    .033733   .1480285     0.23   0.820    -.2566207    .3240867
        dummy2_206 |   .0209704   .1472983     0.14   0.887    -.2679513     .309892
        dummy2_207 |   .0210658   .1475278     0.14   0.886    -.2683058    .3104374
        dummy2_208 |   .0211553   .1475503     0.14   0.886    -.2682604     .310571
        dummy2_209 |   .0212242   .1472785     0.14   0.885    -.2676585    .3101068
        dummy2_210 |   .0224748   .1473346     0.15   0.879     -.266518    .3114676
        dummy2_211 |   .0177773   .1497797     0.12   0.906    -.2760115    .3115661
        dummy2_212 |   .0280501   .1477493     0.19   0.849     -.261756    .3178562
        dummy2_213 |   .0292427   .1475811     0.20   0.843    -.2602335     .318719
        dummy2_214 |   .0243135   .1473536     0.17   0.869    -.2647165    .3133435
        dummy2_215 |   .0253611   .1472582     0.17   0.863    -.2634818     .314204
        dummy2_216 |   .0275972   .1473012     0.19   0.851    -.2613301    .3165245
        dummy2_217 |   .0214717   .1471223     0.15   0.884    -.2671046     .310048
        dummy2_218 |   .0257194   .1473246     0.17   0.861    -.2632537    .3146924
        dummy2_219 |   .0237305   .1471029     0.16   0.872    -.2648078    .3122687
        dummy2_220 |   .0205702   .1467733     0.14   0.889    -.2673217     .308462
        dummy2_221 |   -.360942   .1477688    -2.44   0.015    -.6507865   -.0710976
        dummy2_222 |  -.3513099   .1476757    -2.38   0.017    -.6409718    -.061648
        dummy2_223 |  -.3658108   .1474958    -2.48   0.013    -.6551197   -.0765019
        dummy2_224 |  -.3678481   .1480205    -2.49   0.013    -.6581862     -.07751
        dummy2_225 |   -.369566   .1475931    -2.50   0.012    -.6590658   -.0800662
        dummy2_226 |  -.3676048   .1475533    -2.49   0.013    -.6570265   -.0781831
        dummy2_227 |  -.3489791   .1474666    -2.37   0.018    -.6382307   -.0597275
        dummy2_228 |  -.3529575   .1477094    -2.39   0.017    -.6426854   -.0632297
        dummy2_229 |  -.3656713    .147519    -2.48   0.013    -.6550257   -.0763169
        dummy2_230 |  -.3663235   .1476208    -2.48   0.013    -.6558777   -.0767693
        dummy2_231 |  -.3657644   .1475219    -2.48   0.013    -.6551246   -.0764043
        dummy2_232 |  -.3657509   .1475934    -2.48   0.013    -.6552513   -.0762506
        dummy2_233 |  -.3645119    .148431    -2.46   0.014    -.6556553   -.0733685
        dummy2_234 |  -.3674854   .1483056    -2.48   0.013    -.6583828   -.0765881
        dummy2_235 |  -.3683531   .1476614    -2.49   0.013    -.6579868   -.0787194
        dummy2_236 |  -.3598709    .147642    -2.44   0.015    -.6494665   -.0702753
        dummy2_237 |  -.3659114   .1476652    -2.48   0.013    -.6555526   -.0762701
        dummy2_238 |  -.3630376   .1475046    -2.46   0.014    -.6523639   -.0737114
        dummy2_239 |  -.3677699   .1475944    -2.49   0.013    -.6572723   -.0782676
        dummy2_240 |  -.3649643   .1475701    -2.47   0.013     -.654419   -.0755097
        dummy2_241 |  -.3459321   .1479521    -2.34   0.020    -.6361361   -.0557281
        dummy2_242 |  -.3655015   .1476848    -2.47   0.013    -.6551811   -.0758219
        dummy2_243 |  -.4779451   .1471074    -3.25   0.001    -.7664922    -.189398
        dummy2_244 |  -.4566579   .1472694    -3.10   0.002    -.7455226   -.1677931
        dummy2_245 |  -.4761931   .1468408    -3.24   0.001    -.7642173    -.188169
        dummy2_246 |  -.4810326   .1471579    -3.27   0.001    -.7696788   -.1923864
        dummy2_247 |  -.4808596   .1469159    -3.27   0.001    -.7690311   -.1926881
        dummy2_248 |  -.4791473   .1468916    -3.26   0.001     -.767271   -.1910236
        dummy2_249 |  -.4849858    .150965    -3.21   0.001    -.7810994   -.1888722
        dummy2_250 |  -.4606007   .1471656    -3.13   0.002    -.7492619   -.1719394
        dummy2_251 |  -.4798228   .1468755    -3.27   0.001     -.767915   -.1917305
        dummy2_252 |  -.4808685   .1469821    -3.27   0.001    -.7691698   -.1925673
        dummy2_253 |  -.4791462   .1468551    -3.26   0.001    -.7671984    -.191094
        dummy2_254 |  -.4801969   .1468794    -3.27   0.001    -.7682968    -.192097
        dummy2_255 |  -.4775012    .147249    -3.24   0.001    -.7663261   -.1886763
        dummy2_256 |  -.4828125    .147317    -3.28   0.001    -.7717707   -.1938542
        dummy2_257 |  -.4823504   .1470112    -3.28   0.001    -.7707088    -.193992
        dummy2_258 |  -.4647533   .1471522    -3.16   0.002    -.7533882   -.1761183
        dummy2_259 |  -.4801511   .1469275    -3.27   0.001    -.7683453   -.1919569
        dummy2_260 |  -.4721069   .1468497    -3.21   0.001    -.7601485   -.1840653
        dummy2_261 |  -.4815612   .1468727    -3.28   0.001     -.769648   -.1934745
        dummy2_262 |  -.4763689   .1468832    -3.24   0.001    -.7644763   -.1882616
        dummy2_263 |  -.4509069   .1476435    -3.05   0.002    -.7405056   -.1613082
        dummy2_264 |  -.4800687   .1468239    -3.27   0.001    -.7680598   -.1920776
             _cons |   1.748515   .1443078    12.12   0.000      1.46546    2.031571
------------------------------------------------------------------------------------

. eststo table5_6

. reg compindex labourproductivityleaderklems l.tecnogapklemsLP  ind_trend l.tradelib l.pmr l.per108 l.per403 l.per404 l.per
> 505 y_*  dummy* if sample4_5==1

      Source |       SS       df       MS              Number of obs =    1863
-------------+------------------------------           F(272,  1590) =   44.35
       Model |  17.0472474   272  .062673704           Prob > F      =  0.0000
    Residual |  2.24682172  1590  .001413095           R-squared     =  0.8835
-------------+------------------------------           Adj R-squared =  0.8636
       Total |  19.2940691  1862  .010362013           Root MSE      =  .03759

-----------------------------------------------------------------------------------------------
                    compindex |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
------------------------------+----------------------------------------------------------------
labourproductivityleaderklems |   -.172865   .1258094    -1.37   0.170    -.4196347    .0739047
                              |
              tecnogapklemsLP |
                          L1. |   .0003691   .0007759     0.48   0.634    -.0011527     .001891
                              |
                    ind_trend |   -.011143   .0150801    -0.74   0.460     -.040722     .018436
                              |
                     tradelib |
                          L1. |  -.0026154   .0023062    -1.13   0.257     -.007139    .0019082
                              |
                          pmr |
                          L1. |   .1016106   .0097159    10.46   0.000     .0825533    .1206679
                              |
                       per108 |
                          L1. |   .0084582   .0011623     7.28   0.000     .0061783    .0107381
                              |
                       per403 |
                          L1. |  -.0078232   .0013768    -5.68   0.000    -.0105238   -.0051226
                              |
                       per404 |
                          L1. |    .010604   .0027598     3.84   0.000     .0051908    .0160173
                              |
                       per505 |
                          L1. |   .0043215   .0036995     1.17   0.243     -.002935     .011578
                              |
                          y_1 |          0  (omitted)
                          y_2 |  -.1171514   .0068445   -17.12   0.000    -.1305766   -.1037262
                          y_3 |  -.1232264   .0071781   -17.17   0.000     -.137306   -.1091468
                          y_4 |  -.1247013   .0072602   -17.18   0.000    -.1389419   -.1104607
                          y_5 |  -.1329336   .0070075   -18.97   0.000    -.1466785   -.1191887
                          y_6 |  -.0857052   .0052676   -16.27   0.000    -.0960373   -.0753731
                          y_7 |  -.0697747   .0051539   -13.54   0.000    -.0798837   -.0596656
                          y_8 |  -.0485296   .0049695    -9.77   0.000     -.058277   -.0387822
                          y_9 |  -.0419306   .0049014    -8.55   0.000    -.0515445   -.0323168
                         y_10 |          0  (omitted)
                         y_11 |   .0053384   .0041118     1.30   0.194    -.0027267    .0134035
                     dummy2_1 |   .1418133   .0645941     2.20   0.028     .0151147     .268512
                     dummy2_2 |   .1587389   .0620415     2.56   0.011     .0370471    .2804307
                     dummy2_3 |   .1435945   .0641349     2.24   0.025     .0177966    .2693923
                     dummy2_4 |   .1461114   .0630861     2.32   0.021     .0223706    .2698521
                     dummy2_5 |   .1422551   .0656372     2.17   0.030     .0135106    .2709997
                     dummy2_6 |   .1430275   .0646041     2.21   0.027     .0163095    .2697456
                     dummy2_7 |   .1580055   .0504909     3.13   0.002     .0589697    .2570413
                     dummy2_8 |   .1496614   .0618439     2.42   0.016     .0283573    .2709656
                     dummy2_9 |    .144832   .0637719     2.27   0.023     .0197462    .2699179
                    dummy2_10 |   .1444855   .0639764     2.26   0.024     .0189985    .2699724
                    dummy2_11 |   .1446436   .0642686     2.25   0.025     .0185834    .2707037
                    dummy2_12 |   .1498831    .061976     2.42   0.016     .0283198    .2714464
                    dummy2_13 |   .1478598   .0670964     2.20   0.028      .016253    .2794666
                    dummy2_14 |   .1493019   .0627909     2.38   0.018     .0261403    .2724635
                    dummy2_15 |   .1442817   .0635222     2.27   0.023     .0196857    .2688777
                    dummy2_16 |   .1461819    .064948     2.25   0.025     .0187892    .2735745
                    dummy2_17 |   .1412475   .0654668     2.16   0.031     .0128372    .2696578
                    dummy2_18 |   .1401576   .0635028     2.21   0.027     .0155996    .2647156
                    dummy2_19 |   .1413795   .0651817     2.17   0.030     .0135283    .2692307
                    dummy2_20 |   .1424517    .064183     2.22   0.027     .0165596    .2683438
                    dummy2_21 |   .1425531    .064686     2.20   0.028     .0156742    .2694319
                    dummy2_22 |   .1410507   .0632679     2.23   0.026     .0169534    .2651479
                    dummy2_23 |  -.1008277   .0604144    -1.67   0.095     -.219328    .0176725
                    dummy2_24 |  -.0887233   .0393882    -2.25   0.024    -.1659815    -.011465
                    dummy2_25 |  -.0994806   .0590724    -1.68   0.092    -.2153486    .0163873
                    dummy2_26 |  -.0970215   .0575356    -1.69   0.092    -.2098752    .0158322
                    dummy2_27 |  -.1008176   .0596067    -1.69   0.091    -.2177336    .0160984
                    dummy2_28 |    -.10124   .0592777    -1.71   0.088    -.2175107    .0150307
                    dummy2_29 |  -.0659101   .0577876    -1.14   0.254     -.179258    .0474378
                    dummy2_30 |  -.0905175   .0566618    -1.60   0.110    -.2016572    .0206221
                    dummy2_31 |  -.0925251   .0583663    -1.59   0.113     -.207008    .0219578
                    dummy2_32 |  -.0995767   .0601408    -1.66   0.098    -.2175403    .0183868
                    dummy2_33 |   -.097666   .0588536    -1.66   0.097    -.2131048    .0177727
                    dummy2_34 |  -.0978133   .0582209    -1.68   0.093    -.2120111    .0163845
                    dummy2_35 |  -.0883211    .055165    -1.60   0.110    -.1965249    .0198827
                    dummy2_36 |  -.0974448   .0580842    -1.68   0.094    -.2113745    .0164849
                    dummy2_37 |  -.0992296    .058429    -1.70   0.090    -.2138355    .0153763
                    dummy2_38 |  -.0975861   .0590042    -1.65   0.098    -.2133204    .0181482
                    dummy2_39 |  -.1018815   .0609488    -1.67   0.095    -.2214299     .017667
                    dummy2_40 |  -.1019371   .0607742    -1.68   0.094    -.2211431    .0172688
                    dummy2_41 |  -.1012284   .0614547    -1.65   0.100    -.2217691    .0193124
                    dummy2_42 |  -.0995313   .0608176    -1.64   0.102    -.2188225    .0197599
                    dummy2_43 |  -.0989854   .0610752    -1.62   0.105    -.2187818     .020811
                    dummy2_44 |  -.1009872   .0604291    -1.67   0.095    -.2195162    .0175418
                    dummy2_45 |  -.1919869   .0665284    -2.89   0.004    -.3224794   -.0614943
                    dummy2_46 |          0  (omitted)
                    dummy2_47 |  -.1893141   .0658758    -2.87   0.004    -.3185268   -.0601015
                    dummy2_48 |  -.1796199   .0624764    -2.88   0.004    -.3021647   -.0570752
                    dummy2_49 |          0  (omitted)
                    dummy2_50 |  -.1836151   .0642875    -2.86   0.004    -.3097122    -.057518
                    dummy2_51 |  -.1642597   .0701886    -2.34   0.019    -.3019316   -.0265879
                    dummy2_52 |  -.1838088   .0649486    -2.83   0.005    -.3112028   -.0564148
                    dummy2_53 |  -.1893556   .0662572    -2.86   0.004    -.3193162    -.059395
                    dummy2_54 |  -.1898543   .0664757    -2.86   0.004    -.3202435   -.0594651
                    dummy2_55 |  -.1896023   .0663266    -2.86   0.004    -.3196991   -.0595055
                    dummy2_56 |  -.1874945   .0654344    -2.87   0.004    -.3158414   -.0591477
                    dummy2_57 |  -.1791611   .0625593    -2.86   0.004    -.3018685   -.0564537
                    dummy2_58 |  -.1794346   .0627213    -2.86   0.004    -.3024596   -.0564095
                    dummy2_59 |  -.1888097   .0657314    -2.87   0.004     -.317739   -.0598805
                    dummy2_60 |  -.1869499   .0665738    -2.81   0.005    -.3175315   -.0563682
                    dummy2_61 |  -.1924268   .0673285    -2.86   0.004    -.3244888   -.0603647
                    dummy2_62 |  -.1923924   .0671397    -2.87   0.004    -.3240839   -.0607008
                    dummy2_63 |  -.1921252   .0672562    -2.86   0.004    -.3240454   -.0602051
                    dummy2_64 |   -.190295   .0668284    -2.85   0.004     -.321376   -.0592139
                    dummy2_65 |  -.1906276   .0671074    -2.84   0.005    -.3222559   -.0589994
                    dummy2_66 |  -.1855102   .0650259    -2.85   0.004    -.3130557   -.0579647
                    dummy2_67 |   .0024833   .0613638     0.04   0.968    -.1178792    .1228457
                    dummy2_68 |   .0276729   .0470271     0.59   0.556    -.0645688    .1199145
                    dummy2_69 |    .003421   .0610491     0.06   0.955    -.1163242    .1231661
                    dummy2_70 |   .0099819   .0590197     0.17   0.866    -.1057826    .1257465
                    dummy2_71 |   .0025013   .0620521     0.04   0.968    -.1192113    .1242139
                    dummy2_72 |   .0029189   .0620433     0.05   0.962    -.1187763    .1246142
                    dummy2_73 |   .0047209   .0556009     0.08   0.932     -.104338    .1137797
                    dummy2_74 |   .0065816   .0608931     0.11   0.914    -.1128576    .1260208
                    dummy2_75 |   .0030314    .062028     0.05   0.961    -.1186339    .1246966
                    dummy2_76 |   .0027177   .0621509     0.04   0.965    -.1191887    .1246241
                    dummy2_77 |   .0030402   .0620214     0.05   0.961     -.118612    .1246925
                    dummy2_78 |   .0030727   .0621278     0.05   0.961    -.1187884    .1249338
                    dummy2_79 |   .0060242   .0608797     0.10   0.921    -.1133888    .1254372
                    dummy2_80 |   .0048446   .0614936     0.08   0.937    -.1157724    .1254616
                    dummy2_81 |   .0037967   .0614492     0.06   0.951    -.1167332    .1243266
                    dummy2_82 |   .0057309   .0618556     0.09   0.926    -.1155962    .1270579
                    dummy2_83 |   .0007867   .0627169     0.01   0.990    -.1222297    .1238032
                    dummy2_84 |   .0005287   .0620226     0.01   0.993     -.121126    .1221835
                    dummy2_85 |   .0010204   .0625331     0.02   0.987    -.1216356    .1236764
                    dummy2_86 |   .0031104   .0623992     0.05   0.960     -.119283    .1255037
                    dummy2_87 |   .0023424   .0620113     0.04   0.970      -.11929    .1239748
                    dummy2_88 |   .0019922   .0627634     0.03   0.975    -.1211155    .1250999
                    dummy2_89 |  -.0243996   .0617294    -0.40   0.693    -.1454791    .0966799
                    dummy2_90 |          0  (omitted)
                    dummy2_91 |  -.0083712   .0620662    -0.13   0.893    -.1301115    .1133691
                    dummy2_92 |  -.0033661   .0593438    -0.06   0.955    -.1197664    .1130342
                    dummy2_93 |   -.007395   .0616274    -0.12   0.905    -.1282745    .1134844
                    dummy2_94 |  -.0048906   .0617887    -0.08   0.937    -.1260865    .1163054
                    dummy2_95 |   .0262556    .068126     0.39   0.700    -.1073706    .1598819
                    dummy2_96 |   .0002346   .0598791     0.00   0.997    -.1172157     .117685
                    dummy2_97 |  -.0017752   .0605429    -0.03   0.977    -.1205276    .1169772
                    dummy2_98 |  -.0067094   .0628603    -0.11   0.915    -.1300073    .1165885
                    dummy2_99 |  -.0027581   .0606756    -0.05   0.964    -.1217707    .1162546
                   dummy2_100 |    .002406   .0606156     0.04   0.968     -.116489    .1213009
                   dummy2_101 |   .0050721   .0578408     0.09   0.930    -.1083802    .1185243
                   dummy2_102 |  -.0002073   .0608388    -0.00   0.997      -.11954    .1191254
                   dummy2_103 |  -.0050808   .0597574    -0.09   0.932    -.1222925    .1121308
                   dummy2_104 |  -.0099234   .0591397    -0.17   0.867    -.1259234    .1060766
                   dummy2_105 |  -.0252121   .0615042    -0.41   0.682      -.14585    .0954257
                   dummy2_106 |  -.0259986    .060675    -0.43   0.668    -.1450099    .0930127
                   dummy2_107 |          0  (omitted)
                   dummy2_108 |          0  (omitted)
                   dummy2_109 |  -.0211705   .0616395    -0.34   0.731    -.1420738    .0997328
                   dummy2_110 |          0  (omitted)
                   dummy2_111 |  -.1342398   .0603252    -2.23   0.026     -.252565   -.0159146
                   dummy2_112 |   -.111445   .0526796    -2.12   0.035    -.2147737   -.0081162
                   dummy2_113 |  -.1319699   .0596978    -2.21   0.027    -.2490646   -.0148751
                   dummy2_114 |  -.1330422   .0606268    -2.19   0.028    -.2519591   -.0141252
                   dummy2_115 |    -.13339   .0603033    -2.21   0.027    -.2516725   -.0151076
                   dummy2_116 |  -.1325443   .0605834    -2.19   0.029     -.251376   -.0137125
                   dummy2_117 |  -.1108609   .0579164    -1.91   0.056    -.2244615    .0027397
                   dummy2_118 |  -.1269924   .0590354    -2.15   0.032    -.2427878   -.0111969
                   dummy2_119 |  -.1328093   .0608168    -2.18   0.029    -.2520989   -.0135197
                   dummy2_120 |  -.1333876    .060915    -2.19   0.029    -.2528698   -.0139054
                   dummy2_121 |  -.1326603   .0604248    -2.20   0.028    -.2511809   -.0141397
                   dummy2_122 |  -.1323161    .060598    -2.18   0.029    -.2511764   -.0134557
                   dummy2_123 |  -.1294759    .059057    -2.19   0.028    -.2453136   -.0136381
                   dummy2_124 |  -.1272769   .0583481    -2.18   0.029    -.2417242   -.0128296
                   dummy2_125 |  -.1337019   .0605003    -2.21   0.027    -.2523707   -.0150331
                   dummy2_126 |  -.1294473   .0612096    -2.11   0.035    -.2495074   -.0093872
                   dummy2_127 |  -.1346057   .0617645    -2.18   0.029    -.2557542   -.0134572
                   dummy2_128 |  -.1348251   .0611336    -2.21   0.028    -.2547361   -.0149141
                   dummy2_129 |  -.1343117   .0616872    -2.18   0.030    -.2553085   -.0133148
                   dummy2_130 |  -.1325165   .0610357    -2.17   0.030    -.2522354   -.0127975
                   dummy2_131 |  -.1325667   .0618886    -2.14   0.032    -.2539584   -.0111749
                   dummy2_132 |  -.1334947   .0616572    -2.17   0.031    -.2544326   -.0125567
                   dummy2_133 |  -.1050891   .0618138    -1.70   0.089    -.2263341     .016156
                   dummy2_134 |  -.0677276   .0430495    -1.57   0.116    -.1521675    .0167122
                   dummy2_135 |  -.0952562    .065552    -1.45   0.146    -.2238336    .0333211
                   dummy2_136 |  -.1060623   .0605869    -1.75   0.080    -.2249009    .0127763
                   dummy2_137 |  -.1100615   .0612667    -1.80   0.073    -.2302336    .0101106
                   dummy2_138 |  -.1032744   .0631763    -1.63   0.102    -.2271919    .0206431
                   dummy2_139 |          0  (omitted)
                   dummy2_140 |  -.0998039   .0631777    -1.58   0.114    -.2237243    .0241166
                   dummy2_141 |  -.1083641    .062422    -1.74   0.083    -.2308022     .014074
                   dummy2_142 |  -.1088947   .0623021    -1.75   0.081    -.2310976    .0133081
                   dummy2_143 |  -.0986434   .0647969    -1.52   0.128    -.2257398     .028453
                   dummy2_144 |   -.100992   .0639352    -1.58   0.114    -.2263981    .0244141
                   dummy2_145 |  -.0885312   .0682974    -1.30   0.195    -.2224936    .0454311
                   dummy2_146 |  -.0993368   .0642516    -1.55   0.122    -.2253636    .0266901
                   dummy2_147 |  -.1089055   .0614992    -1.77   0.077    -.2295334    .0117225
                   dummy2_148 |  -.0956546   .0644668    -1.48   0.138    -.2221035    .0307942
                   dummy2_149 |  -.0739803   .0817487    -0.90   0.366    -.2343268    .0863662
                   dummy2_150 |  -.0974738   .0653359    -1.49   0.136    -.2256273    .0306798
                   dummy2_151 |  -.0889567   .0701562    -1.27   0.205    -.2265651    .0486516
                   dummy2_152 |  -.0994155   .0641206    -1.55   0.121    -.2251853    .0263543
                   dummy2_153 |  -.0790843   .0758647    -1.04   0.297    -.2278897     .069721
                   dummy2_154 |  -.0708193   .0833217    -0.85   0.395    -.2342513    .0926126
                   dummy2_155 |   .0496939   .0620247     0.80   0.423    -.0719649    .1713528
                   dummy2_156 |          0  (omitted)
                   dummy2_157 |   .0519728   .0619936     0.84   0.402    -.0696251    .1735707
                   dummy2_158 |   .0653787   .0572167     1.14   0.253    -.0468494    .1776068
                   dummy2_159 |    .052467   .0599176     0.88   0.381    -.0650588    .1699928
                   dummy2_160 |   .0506801   .0624302     0.81   0.417    -.0717742    .1731343
                   dummy2_161 |   .0731432   .0575438     1.27   0.204    -.0397265     .186013
                   dummy2_162 |   .0567434   .0607722     0.93   0.351    -.0624587    .1759455
                   dummy2_163 |   .0545645   .0607438     0.90   0.369    -.0645819    .1737109
                   dummy2_164 |   .0507541   .0619148     0.82   0.412    -.0706891    .1721974
                   dummy2_165 |   .0522875   .0616749     0.85   0.397    -.0686853    .1732603
                   dummy2_166 |   .0636695    .061127     1.04   0.298    -.0562286    .1835676
                   dummy2_167 |   .0868064   .0540578     1.61   0.109    -.0192257    .1928385
                   dummy2_168 |   .0616402   .0580282     1.06   0.288    -.0521796    .1754599
                   dummy2_169 |   .0506109   .0622307     0.81   0.416    -.0714519    .1726737
                   dummy2_170 |   .0531565   .0627816     0.85   0.397     -.069987       .1763
                   dummy2_171 |   .0475613    .063531     0.75   0.454     -.077052    .1721746
                   dummy2_172 |   .0474687    .063064     0.75   0.452    -.0762285     .171166
                   dummy2_173 |   .0479131   .0634831     0.75   0.451    -.0766064    .1724325
                   dummy2_174 |   .0507253   .0637826     0.80   0.427    -.0743815    .1758321
                   dummy2_175 |   .0495379   .0633101     0.78   0.434    -.0746422    .1737181
                   dummy2_176 |   .0484218   .0630606     0.77   0.443    -.0752688    .1721124
                   dummy2_177 |  -.1792749   .0660248    -2.72   0.007    -.3087797     -.04977
                   dummy2_178 |  -.1410123   .0520383    -2.71   0.007    -.2430832   -.0389414
                   dummy2_179 |  -.1766678   .0655038    -2.70   0.007    -.3051507    -.048185
                   dummy2_180 |  -.1764514   .0650237    -2.71   0.007    -.3039927   -.0489102
                   dummy2_181 |  -.1776223    .065856    -2.70   0.007     -.306796   -.0484486
                   dummy2_182 |  -.1774158   .0662587    -2.68   0.007    -.3073794   -.0474522
                   dummy2_183 |  -.1543396   .0649226    -2.38   0.018    -.2816824   -.0269968
                   dummy2_184 |  -.1717016     .06419    -2.67   0.008    -.2976075   -.0457956
                   dummy2_185 |  -.1764982   .0658671    -2.68   0.007    -.3056937   -.0473027
                   dummy2_186 |  -.1781786   .0665213    -2.68   0.007    -.3086573   -.0476999
                   dummy2_187 |   -.177164   .0660494    -2.68   0.007    -.3067171    -.047611
                   dummy2_188 |   -.173899   .0647666    -2.69   0.007    -.3009359   -.0468621
                   dummy2_189 |  -.1698173   .0631677    -2.69   0.007     -.293718   -.0459165
                   dummy2_190 |  -.1710709   .0636728    -2.69   0.007    -.2959625   -.0461794
                   dummy2_191 |  -.1779641   .0656726    -2.71   0.007    -.3067781   -.0491502
                   dummy2_192 |  -.1739319    .066649    -2.61   0.009     -.304661   -.0432027
                   dummy2_193 |  -.1798024   .0668029    -2.69   0.007    -.3108334   -.0487713
                   dummy2_194 |   -.179522   .0670042    -2.68   0.007    -.3109479    -.048096
                   dummy2_195 |          0  (omitted)
                   dummy2_196 |          0  (omitted)
                   dummy2_197 |  -.1778097    .066874    -2.66   0.008    -.3089801   -.0466392
                   dummy2_198 |   -.178862   .0664988    -2.69   0.007    -.3092966   -.0484275
                   dummy2_199 |   .1811898   .0619824     2.92   0.004     .0596138    .3027657
                   dummy2_200 |   .2116677   .0471877     4.49   0.000     .1191111    .3042243
                   dummy2_201 |   .1835447    .061305     2.99   0.003     .0632975    .3037919
                   dummy2_202 |   .1970142   .0565075     3.49   0.001     .0861772    .3078513
                   dummy2_203 |   .1812087   .0622716     2.91   0.004     .0590656    .3033518
                   dummy2_204 |   .1818612   .0625353     2.91   0.004     .0592008    .3045216
                   dummy2_205 |   .2149026    .055822     3.85   0.000     .1054102     .324395
                   dummy2_206 |   .1866349   .0611018     3.05   0.002     .0667862    .3064835
                   dummy2_207 |   .1847208   .0608095     3.04   0.002     .0654456     .303996
                   dummy2_208 |   .1832145   .0613827     2.98   0.003     .0628151     .303614
                   dummy2_209 |   .1830792   .0615728     2.97   0.003     .0623069    .3038516
                   dummy2_210 |     .18398   .0612195     3.01   0.003     .0639007    .3040594
                   dummy2_211 |   .2020057    .058833     3.43   0.001     .0866073    .3174041
                   dummy2_212 |   .1849948   .0608412     3.04   0.002     .0656575    .3043322
                   dummy2_213 |   .1835582   .0604239     3.04   0.002     .0650393    .3020772
                   dummy2_214 |   .1852931   .0622605     2.98   0.003     .0631718    .3074145
                   dummy2_215 |     .18005   .0627133     2.87   0.004     .0570406    .3030594
                   dummy2_216 |   .1799394   .0623676     2.89   0.004     .0576081    .3022708
                   dummy2_217 |   .1805557   .0629522     2.87   0.004     .0570778    .3040337
                   dummy2_218 |    .181976   .0617843     2.95   0.003     .0607886    .3031633
                   dummy2_219 |    .182063   .0627909     2.90   0.004     .0589012    .3052247
                   dummy2_220 |   .1812968   .0625992     2.90   0.004      .058511    .3040825
                   dummy2_221 |   .0497538   .0619892     0.80   0.422    -.0718353    .1713429
                   dummy2_222 |   .0670734   .0622874     1.08   0.282    -.0551007    .1892475
                   dummy2_223 |   .0511076   .0623837     0.82   0.413    -.0712554    .1734705
                   dummy2_224 |   .0547317   .0606503     0.90   0.367    -.0642314    .1736947
                   dummy2_225 |   .0511282   .0620214     0.82   0.410    -.0705242    .1727805
                   dummy2_226 |   .0501664   .0628467     0.80   0.425    -.0731046    .1734375
                   dummy2_227 |   .0731788   .0572162     1.28   0.201    -.0390484     .185406
                   dummy2_228 |   .0550069    .060992     0.90   0.367    -.0646264    .1746402
                   dummy2_229 |   .0505243   .0623568     0.81   0.418     -.071786    .1728346
                   dummy2_230 |   .0500305   .0626754     0.80   0.425    -.0729046    .1729657
                   dummy2_231 |   .0508134   .0622014     0.82   0.414     -.071192    .1728189
                   dummy2_232 |   .0523012   .0616775     0.85   0.397    -.0686766    .1732789
                   dummy2_233 |   .0569821   .0596868     0.95   0.340     -.060091    .1740552
                   dummy2_234 |   .0554865   .0604432     0.92   0.359    -.0630702    .1740432
                   dummy2_235 |   .0513917   .0619324     0.83   0.407    -.0700861    .1728695
                   dummy2_236 |   .0531966   .0629669     0.84   0.398    -.0703104    .1767035
                   dummy2_237 |   .0479408   .0633242     0.76   0.449     -.076267    .1721486
                   dummy2_238 |   .0480524   .0632454     0.76   0.448    -.0760007    .1721056
                   dummy2_239 |   .0483171   .0633806     0.76   0.446    -.0760012    .1726354
                   dummy2_240 |   .0500684    .062657     0.80   0.424    -.0728307    .1729674
                   dummy2_241 |    .049664   .0629052     0.79   0.430    -.0737219    .1730499
                   dummy2_242 |   .0488349   .0628947     0.78   0.438    -.0745303    .1722001
                   dummy2_243 |   .1798676   .0638204     2.82   0.005     .0546867    .3050485
                   dummy2_244 |   .1982939   .0595677     3.33   0.001     .0814545    .3151334
                   dummy2_245 |    .181304   .0635908     2.85   0.004     .0565735    .3060346
                   dummy2_246 |   .1844192   .0619121     2.98   0.003     .0629812    .3058571
                   dummy2_247 |   .1806642   .0633829     2.85   0.004     .0563413    .3049871
                   dummy2_248 |   .1808249   .0637323     2.84   0.005     .0558167    .3058331
                   dummy2_249 |   .2038427   .0650137     3.14   0.002     .0763211    .3313642
                   dummy2_250 |   .1836082   .0631535     2.91   0.004     .0597354    .3074811
                   dummy2_251 |   .1809066   .0635346     2.85   0.004     .0562863    .3055269
                   dummy2_252 |   .1810747   .0635701     2.85   0.004     .0563847    .3057647
                   dummy2_253 |   .1810716   .0634397     2.85   0.004     .0566374    .3055058
                   dummy2_254 |    .181651   .0632746     2.87   0.004     .0575407    .3057614
                   dummy2_255 |   .1828445   .0626045     2.92   0.004     .0600485    .3056404
                   dummy2_256 |   .1834841    .062571     2.93   0.003     .0607537    .3062145
                   dummy2_257 |   .1826763   .0627291     2.91   0.004     .0596357    .3057168
                   dummy2_258 |   .1845721   .0634634     2.91   0.004     .0600915    .3090528
                   dummy2_259 |   .1794556   .0639305     2.81   0.005     .0540586    .3048526
                   dummy2_260 |   .1793067   .0634345     2.83   0.005     .0548827    .3037308
                   dummy2_261 |   .1797299   .0638209     2.82   0.005     .0545479    .3049119
                   dummy2_262 |    .181861   .0637671     2.85   0.004     .0567845    .3069375
                   dummy2_263 |   .1812375   .0636247     2.85   0.004     .0564404    .3060346
                   dummy2_264 |    .180409   .0635367     2.84   0.005     .0557846    .3050334
                        _cons |    .370204   .0656762     5.64   0.000     .2413829    .4990251
-----------------------------------------------------------------------------------------------

. eststo table5_7

. reg compindex labourproductivityleaderklems l.tecnogapklemsLP  ind_trend l.tradelib l.per108 l.per403 l.per404 l.per505 y_
> *  dummy* if sample4_5==1

      Source |       SS       df       MS              Number of obs =    1863
-------------+------------------------------           F(271,  1591) =   41.30
       Model |  16.8926923   271  .062334658           Prob > F      =  0.0000
    Residual |   2.4013768  1591  .001509351           R-squared     =  0.8755
-------------+------------------------------           Adj R-squared =  0.8543
       Total |  19.2940691  1862  .010362013           Root MSE      =  .03885

-----------------------------------------------------------------------------------------------
                    compindex |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
------------------------------+----------------------------------------------------------------
labourproductivityleaderklems |  -.1850234   .1300181    -1.42   0.155    -.4400482    .0700014
                              |
              tecnogapklemsLP |
                          L1. |   .0002251   .0008017     0.28   0.779    -.0013475    .0017977
                              |
                    ind_trend |  -.0080477   .0155823    -0.52   0.606    -.0386116    .0225163
                              |
                     tradelib |
                          L1. |  -.0027074   .0023835    -1.14   0.256    -.0073825    .0019676
                              |
                       per108 |
                          L1. |   .0077167    .001199     6.44   0.000     .0053648    .0100686
                              |
                       per403 |
                          L1. |   -.013693   .0012993   -10.54   0.000    -.0162416   -.0111444
                              |
                       per404 |
                          L1. |    .007028   .0028303     2.48   0.013     .0014765    .0125795
                              |
                       per505 |
                          L1. |   .0287546   .0029646     9.70   0.000     .0229397    .0345696
                              |
                          y_1 |          0  (omitted)
                          y_2 |          0  (omitted)
                          y_3 |  -.0013769   .0045076    -0.31   0.760    -.0102184    .0074646
                          y_4 |  -.0007128   .0045392    -0.16   0.875    -.0096163    .0081907
                          y_5 |  -.0098107   .0044244    -2.22   0.027    -.0184891   -.0011324
                          y_6 |    .012118   .0045908     2.64   0.008     .0031135    .0211226
                          y_7 |   .0278186    .004531     6.14   0.000     .0189313    .0367059
                          y_8 |   .0460626   .0045772    10.06   0.000     .0370846    .0550405
                          y_9 |   .0509995   .0046947    10.86   0.000     .0417912    .0602079
                         y_10 |   .0642524   .0047656    13.48   0.000     .0549049    .0735999
                         y_11 |   .0706129   .0048077    14.69   0.000     .0611828     .080043
                     dummy2_1 |   .0102217   .0654791     0.16   0.876    -.1182126     .138656
                     dummy2_2 |   .0290465   .0628258     0.46   0.644    -.0941836    .1522765
                     dummy2_3 |   .0121207   .0649974     0.19   0.852    -.1153688    .1396103
                     dummy2_4 |   .0146269   .0638915     0.23   0.819    -.1106935    .1399472
                     dummy2_5 |   .0104384   .0665734     0.16   0.875    -.1201424    .1410192
                     dummy2_6 |    .011463     .06549     0.18   0.861    -.1169928    .1399188
                     dummy2_7 |    .031528   .0506633     0.62   0.534    -.0678458    .1309018
                     dummy2_8 |   .0185758    .062589     0.30   0.767    -.1041898    .1413413
                     dummy2_9 |   .0133065   .0646138     0.21   0.837    -.1134306    .1400436
                    dummy2_10 |   .0129629   .0648294     0.20   0.842    -.1141971    .1401228
                    dummy2_11 |   .0130269   .0651355     0.20   0.842    -.1147336    .1407874
                    dummy2_12 |   .0185139   .0627226     0.30   0.768    -.1045138    .1415416
                    dummy2_13 |    .021328   .0682073     0.31   0.755    -.1124576    .1551136
                    dummy2_14 |   .0178293   .0635803     0.28   0.779    -.1068807    .1425393
                    dummy2_15 |   .0128189   .0643517     0.20   0.842    -.1134042    .1390419
                    dummy2_16 |   .0148292   .0658565     0.23   0.822    -.1143454    .1440038
                    dummy2_17 |   .0094982   .0663953     0.14   0.886    -.1207332    .1397296
                    dummy2_18 |   .0088946   .0643353     0.14   0.890    -.1172962    .1350855
                    dummy2_19 |   .0097142   .0660966     0.15   0.883    -.1199315    .1393598
                    dummy2_20 |    .011112   .0650507     0.17   0.864    -.1164821    .1387061
                    dummy2_21 |   .0110783   .0655781     0.17   0.866    -.1175503    .1397069
                    dummy2_22 |   .0098909   .0640897     0.15   0.877    -.1158181       .1356
                    dummy2_23 |  -.0952943   .0624357    -1.53   0.127    -.2177592    .0271706
                    dummy2_24 |  -.0773678   .0406921    -1.90   0.057    -.1571836    .0024481
                    dummy2_25 |  -.0936334   .0610484    -1.53   0.125    -.2133772    .0261103
                    dummy2_26 |   -.091097   .0594601    -1.53   0.126    -.2077253    .0255313
                    dummy2_27 |  -.0950969   .0616008    -1.54   0.123    -.2159241    .0257304
                    dummy2_28 |  -.0920877   .0612567    -1.50   0.133    -.2122399    .0280646
                    dummy2_29 |  -.0673989   .0597232    -1.13   0.259    -.1845433    .0497454
                    dummy2_30 |  -.0844223   .0585567    -1.44   0.150    -.1992787    .0304341
                    dummy2_31 |    -.08819   .0603199    -1.46   0.144    -.2065048    .0301247
                    dummy2_32 |  -.0939638   .0621528    -1.51   0.131    -.2158739    .0279463
                    dummy2_33 |  -.0919397   .0608224    -1.51   0.131    -.2112401    .0273607
                    dummy2_34 |  -.0919252   .0601683    -1.53   0.127    -.2099427    .0260924
                    dummy2_35 |  -.0834349   .0570109    -1.46   0.144    -.1952592    .0283894
                    dummy2_36 |  -.0887858   .0600238    -1.48   0.139    -.2065199    .0289482
                    dummy2_37 |  -.0933388   .0603834    -1.55   0.122    -.2117781    .0251006
                    dummy2_38 |  -.0913905   .0609777    -1.50   0.134    -.2109955    .0282145
                    dummy2_39 |  -.0964234   .0629881    -1.53   0.126    -.2199718     .027125
                    dummy2_40 |  -.0964047   .0628076    -1.53   0.125     -.219599    .0267896
                    dummy2_41 |  -.0958748   .0635111    -1.51   0.131    -.2204489    .0286994
                    dummy2_42 |   -.093897   .0628524    -1.49   0.135    -.2171792    .0293852
                    dummy2_43 |  -.0939923   .0631191    -1.49   0.137    -.2177978    .0298131
                    dummy2_44 |  -.0953561   .0624508    -1.53   0.127    -.2178506    .0271383
                    dummy2_45 |  -.2259096   .0686751    -3.29   0.001    -.3606128   -.0912064
                    dummy2_46 |          0  (omitted)
                    dummy2_47 |  -.2231212   .0680005    -3.28   0.001    -.3565012   -.0897413
                    dummy2_48 |  -.2097131   .0645006    -3.25   0.001    -.3362283   -.0831979
                    dummy2_49 |          0  (omitted)
                    dummy2_50 |  -.2138087   .0663739    -3.22   0.001    -.3439981   -.0836192
                    dummy2_51 |  -.1949772   .0724761    -2.69   0.007     -.337136   -.0528184
                    dummy2_52 |   -.217471   .0670418    -3.24   0.001    -.3489705   -.0859715
                    dummy2_53 |  -.2233019   .0683944    -3.26   0.001    -.3574545   -.0891493
                    dummy2_54 |  -.2237973   .0686205    -3.26   0.001    -.3583935   -.0892012
                    dummy2_55 |  -.2235472   .0684663    -3.27   0.001    -.3578407   -.0892536
                    dummy2_56 |  -.2213544   .0675435    -3.28   0.001     -.353838   -.0888709
                    dummy2_57 |  -.2091297    .064587    -3.24   0.001    -.3358142   -.0824451
                    dummy2_58 |  -.2094908   .0647542    -3.24   0.001    -.3365032   -.0824784
                    dummy2_59 |  -.2226928   .0678506    -3.28   0.001    -.3557788   -.0896068
                    dummy2_60 |  -.2205379   .0687237    -3.21   0.001    -.3553364   -.0857393
                    dummy2_61 |    -.22651   .0695023    -3.26   0.001    -.3628356   -.0901843
                    dummy2_62 |   -.226422   .0693071    -3.27   0.001    -.3623649   -.0904791
                    dummy2_63 |  -.2261732   .0694276    -3.26   0.001    -.3623524    -.089994
                    dummy2_64 |  -.2241348    .068986    -3.25   0.001    -.3594478   -.0888219
                    dummy2_65 |  -.2245604   .0692742    -3.24   0.001    -.3604386   -.0886821
                    dummy2_66 |  -.2157538   .0671376    -3.21   0.001    -.3474413   -.0840664
                    dummy2_67 |  -.0716511   .0629947    -1.14   0.256    -.1952125    .0519103
                    dummy2_68 |  -.0427587   .0481014    -0.89   0.374    -.1371075    .0515901
                    dummy2_69 |  -.0705814   .0626688    -1.13   0.260    -.1935036    .0523407
                    dummy2_70 |  -.0640187   .0605567    -1.06   0.291     -.182798    .0547606
                    dummy2_71 |  -.0717544   .0637095    -1.13   0.260    -.1967178     .053209
                    dummy2_72 |  -.0712731    .063701    -1.12   0.263    -.1962198    .0536736
                    dummy2_73 |   -.061648   .0570879    -1.08   0.280    -.1736234    .0503274
                    dummy2_74 |  -.0673469   .0625074    -1.08   0.281    -.1899523    .0552586
                    dummy2_75 |  -.0712039   .0636846    -1.12   0.264    -.1961185    .0537107
                    dummy2_76 |  -.0714998   .0638127    -1.12   0.263    -.1966656    .0536661
                    dummy2_77 |  -.0711981   .0636777    -1.12   0.264    -.1960991    .0537029
                    dummy2_78 |  -.0711637   .0637885    -1.12   0.265     -.196282    .0539546
                    dummy2_79 |  -.0680298    .062492    -1.09   0.276    -.1906051    .0545455
                    dummy2_80 |  -.0693205   .0631294    -1.10   0.272    -.1931461    .0545051
                    dummy2_81 |   -.070382   .0630831    -1.12   0.265    -.1941167    .0533526
                    dummy2_82 |  -.0681185   .0635096    -1.07   0.284    -.1926898    .0564528
                    dummy2_83 |   -.073536   .0644003    -1.14   0.254    -.1998543    .0527823
                    dummy2_84 |  -.0736294   .0636799    -1.16   0.248    -.1985348     .051276
                    dummy2_85 |  -.0732448   .0642097    -1.14   0.254    -.1991894    .0526998
                    dummy2_86 |  -.0710164    .064072    -1.11   0.268    -.1966908     .054658
                    dummy2_87 |  -.0717232   .0636691    -1.13   0.260    -.1966074    .0531611
                    dummy2_88 |   -.072281   .0644492    -1.12   0.262    -.1986953    .0541332
                    dummy2_89 |  -.0367369   .0637855    -0.58   0.565    -.1618493    .0883755
                    dummy2_90 |          0  (omitted)
                    dummy2_91 |  -.0244752   .0641256    -0.38   0.703    -.1502547    .1013042
                    dummy2_92 |  -.0192161   .0613116    -0.31   0.754    -.1394762     .101044
                    dummy2_93 |   -.023484   .0636719    -0.37   0.712    -.1483735    .1014056
                    dummy2_94 |  -.0210891   .0638384    -0.33   0.741    -.1463054    .1041271
                    dummy2_95 |   .0139779   .0703976     0.20   0.843    -.1241039    .1520597
                    dummy2_96 |   -.015597   .0618651    -0.25   0.801    -.1369428    .1057487
                    dummy2_97 |  -.0178828   .0625507    -0.29   0.775    -.1405733    .1048077
                    dummy2_98 |  -.0230425   .0649459    -0.35   0.723    -.1504311    .1043461
                    dummy2_99 |  -.0188809   .0626878    -0.30   0.763    -.1418404    .1040785
                   dummy2_100 |  -.0129191   .0626277    -0.21   0.837    -.1357607    .1099225
                   dummy2_101 |  -.0107465   .0597579    -0.18   0.857    -.1279589    .1064659
                   dummy2_102 |  -.0164451   .0628562    -0.26   0.794    -.1397349    .1068447
                   dummy2_103 |   -.020883   .0617394    -0.34   0.735    -.1419821    .1002162
                   dummy2_104 |  -.0246867   .0611033    -0.40   0.686    -.1445381    .0951648
                   dummy2_105 |  -.0374456   .0635529    -0.59   0.556    -.1621019    .0872106
                   dummy2_106 |  -.0379211   .0626963    -0.60   0.545    -.1608972     .085055
                   dummy2_107 |          0  (omitted)
                   dummy2_108 |          0  (omitted)
                   dummy2_109 |  -.0346678   .0636903    -0.54   0.586    -.1595936     .090258
                   dummy2_110 |          0  (omitted)
                   dummy2_111 |  -.1605049   .0622918    -2.58   0.010    -.2826876   -.0383222
                   dummy2_112 |  -.1352522   .0543934    -2.49   0.013    -.2419424    -.028562
                   dummy2_113 |  -.1581148   .0616434    -2.56   0.010    -.2790257    -.037204
                   dummy2_114 |  -.1594208   .0626034    -2.55   0.011    -.2822146   -.0366269
                   dummy2_115 |  -.1596834   .0622691    -2.56   0.010    -.2818216   -.0375452
                   dummy2_116 |  -.1588531   .0625588    -2.54   0.011    -.2815595   -.0361468
                   dummy2_117 |  -.1308239    .059824    -2.19   0.029    -.2481659   -.0134818
                   dummy2_118 |  -.1530553   .0609586    -2.51   0.012    -.2726229   -.0334878
                   dummy2_119 |  -.1591904   .0627999    -2.53   0.011    -.2823697   -.0360111
                   dummy2_120 |  -.1597303   .0629016    -2.54   0.011    -.2831091   -.0363515
                   dummy2_121 |  -.1589757   .0623946    -2.55   0.011      -.28136   -.0365913
                   dummy2_122 |  -.1586593   .0625737    -2.54   0.011     -.281395   -.0359237
                   dummy2_123 |  -.1555774   .0609807    -2.55   0.011    -.2751884   -.0359664
                   dummy2_124 |  -.1533904   .0602474    -2.55   0.011     -.271563   -.0352178
                   dummy2_125 |  -.1599908   .0624729    -2.56   0.011    -.2825287   -.0374529
                   dummy2_126 |  -.1555853   .0632072    -2.46   0.014    -.2795636   -.0316071
                   dummy2_127 |  -.1611451   .0637796    -2.53   0.012     -.286246   -.0360442
                   dummy2_128 |  -.1612149   .0631276    -2.55   0.011     -.285037   -.0373929
                   dummy2_129 |  -.1608173   .0636998    -2.52   0.012    -.2857616   -.0358731
                   dummy2_130 |  -.1587679   .0630269    -2.52   0.012    -.2823923   -.0351434
                   dummy2_131 |  -.1590374   .0639081    -2.49   0.013    -.2843905   -.0336844
                   dummy2_132 |  -.1599482   .0636689    -2.51   0.012    -.2848319   -.0350645
                   dummy2_133 |    -.18484   .0633964    -2.92   0.004    -.3091892   -.0604908
                   dummy2_134 |  -.1410591   .0438974    -3.21   0.001     -.227162   -.0549561
                   dummy2_135 |  -.1774368   .0672593    -2.64   0.008    -.3093629   -.0455107
                   dummy2_136 |  -.1853049   .0621248    -2.98   0.003    -.3071599   -.0634499
                   dummy2_137 |  -.1879407   .0628495    -2.99   0.003    -.3112173   -.0646641
                   dummy2_138 |  -.1834469     .06481    -2.83   0.005    -.3105689   -.0563249
                   dummy2_139 |          0  (omitted)
                   dummy2_140 |  -.1800252    .064811    -2.78   0.006    -.3071491   -.0529013
                   dummy2_141 |  -.1872878   .0640398    -2.92   0.003     -.312899   -.0616766
                   dummy2_142 |  -.1875335   .0639183    -2.93   0.003    -.3129065   -.0621606
                   dummy2_143 |  -.1801893   .0664808    -2.71   0.007    -.3105885   -.0497901
                   dummy2_144 |  -.1816427   .0655944    -2.77   0.006    -.3103032   -.0529822
                   dummy2_145 |  -.1721345      .0701    -2.46   0.014    -.3096325   -.0346365
                   dummy2_146 |  -.1804745    .065918    -2.74   0.006    -.3097698   -.0511792
                   dummy2_147 |  -.1872775   .0630856    -2.97   0.003    -.3110171   -.0635379
                   dummy2_148 |  -.1766075   .0661442    -2.67   0.008    -.3063465   -.0468685
                   dummy2_149 |  -.1627467   .0840304    -1.94   0.053    -.3275686    .0020752
                   dummy2_150 |  -.1796064   .0670349    -2.68   0.007    -.3110924   -.0481204
                   dummy2_151 |  -.1734374    .072024    -2.41   0.016    -.3147093   -.0321655
                   dummy2_152 |  -.1802729    .065785    -2.74   0.006    -.3093072   -.0512386
                   dummy2_153 |  -.1657754   .0779365    -2.13   0.034    -.3186445   -.0129063
                   dummy2_154 |   -.160029   .0856603    -1.87   0.062    -.3280479      .00799
                   dummy2_155 |  -.0552592   .0632578    -0.87   0.382    -.1793365    .0688182
                   dummy2_156 |          0  (omitted)
                   dummy2_157 |  -.0529662   .0632254    -0.84   0.402    -.1769801    .0710477
                   dummy2_158 |  -.0391613   .0582239    -0.67   0.501    -.1533649    .0750423
                   dummy2_159 |  -.0521801   .0610551    -0.85   0.393    -.1719369    .0675767
                   dummy2_160 |  -.0543013    .063682    -0.85   0.394    -.1792107    .0706081
                   dummy2_161 |  -.0314779   .0585658    -0.54   0.591    -.1463521    .0833964
                   dummy2_162 |  -.0479724   .0619496    -0.77   0.439    -.1694837     .073539
                   dummy2_163 |   -.050305   .0619173    -0.81   0.417     -.171753     .071143
                   dummy2_164 |  -.0541413   .0631436    -0.86   0.391    -.1779947    .0697121
                   dummy2_165 |  -.0526669   .0628914    -0.84   0.402    -.1760256    .0706918
                   dummy2_166 |  -.0406267   .0623282    -0.65   0.515    -.1628807    .0816273
                   dummy2_167 |  -.0164398   .0549291    -0.30   0.765    -.1241807    .0913012
                   dummy2_168 |  -.0428947   .0590755    -0.73   0.468    -.1587688    .0729793
                   dummy2_169 |  -.0543837   .0634728    -0.86   0.392    -.1788828    .0701153
                   dummy2_170 |  -.0515356   .0640545    -0.80   0.421    -.1771757    .0741045
                   dummy2_171 |  -.0575983   .0648315    -0.89   0.374    -.1847624    .0695659
                   dummy2_172 |   -.057574   .0643445    -0.89   0.371    -.1837829    .0686349
                   dummy2_173 |  -.0572173   .0647819    -0.88   0.377    -.1842841    .0698495
                   dummy2_174 |   -.051622   .0651386    -0.79   0.428    -.1793885    .0761445
                   dummy2_175 |  -.0554661   .0646028    -0.86   0.391    -.1821816    .0712495
                   dummy2_176 |  -.0565728   .0643417    -0.88   0.379    -.1827762    .0696306
                   dummy2_177 |  -.2136904   .0681516    -3.14   0.002    -.3473669    -.080014
                   dummy2_178 |  -.1718901   .0536948    -3.20   0.001    -.2772101   -.0665701
                   dummy2_179 |  -.2109937   .0676129    -3.12   0.002    -.3436135   -.0783739
                   dummy2_180 |  -.2107931   .0671161    -3.14   0.002    -.3424384   -.0791478
                   dummy2_181 |  -.2120682   .0679768    -3.12   0.002    -.3454017   -.0787346
                   dummy2_182 |  -.2118852   .0683934    -3.10   0.002    -.3460359   -.0777346
                   dummy2_183 |  -.1871855   .0670187    -2.79   0.005    -.3186398   -.0557312
                   dummy2_184 |  -.2057776   .0662547    -3.11   0.002    -.3357333    -.075822
                   dummy2_185 |    -.21097   .0679882    -3.10   0.002    -.3443258   -.0776142
                   dummy2_186 |  -.2126752    .068665    -3.10   0.002    -.3473586   -.0779918
                   dummy2_187 |  -.2116357   .0681768    -3.10   0.002    -.3453616   -.0779099
                   dummy2_188 |  -.2082605   .0668499    -3.12   0.002    -.3393838   -.0771373
                   dummy2_189 |  -.2039182   .0651966    -3.13   0.002    -.3317985   -.0760379
                   dummy2_190 |  -.2052805   .0657188    -3.12   0.002    -.3341851   -.0763759
                   dummy2_191 |  -.2123394   .0677874    -3.13   0.002    -.3453014   -.0793775
                   dummy2_192 |  -.2081499   .0687985    -3.03   0.003    -.3430952   -.0732046
                   dummy2_193 |  -.2143659   .0689561    -3.11   0.002    -.3496202   -.0791115
                   dummy2_194 |  -.2141278   .0691642    -3.10   0.002    -.3497903   -.0784652
                   dummy2_195 |          0  (omitted)
                   dummy2_196 |          0  (omitted)
                   dummy2_197 |   -.212297     .06903    -3.08   0.002    -.3476964   -.0768977
                   dummy2_198 |  -.2132981    .068642    -3.11   0.002    -.3479364   -.0786598
                   dummy2_199 |   .0937529   .0634733     1.48   0.140    -.0307471    .2182529
                   dummy2_200 |   .1278582   .0480599     2.66   0.008     .0335908    .2221256
                   dummy2_201 |    .096239   .0627684     1.53   0.125    -.0268785    .2193564
                   dummy2_202 |   .1100855   .0577651     1.91   0.057    -.0032182    .2233891
                   dummy2_203 |    .093735   .0637744     1.47   0.142    -.0313556    .2188257
                   dummy2_204 |   .0943736   .0640492     1.47   0.141    -.0312561    .2200033
                   dummy2_205 |    .130341   .0570834     2.28   0.023     .0183744    .2423077
                   dummy2_206 |   .0994144   .0625576     1.59   0.112    -.0232896    .2221184
                   dummy2_207 |   .0974007   .0622512     1.56   0.118    -.0247023    .2195037
                   dummy2_208 |   .0958812    .062849     1.53   0.127    -.0273944    .2191568
                   dummy2_209 |    .095675   .0630464     1.52   0.129    -.0279877    .2193377
                   dummy2_210 |   .0966249   .0626785     1.54   0.123    -.0263161     .219566
                   dummy2_211 |   .1146046   .0601872     1.90   0.057    -.0034499    .2326591
                   dummy2_212 |   .0976993   .0622846     1.57   0.117    -.0244692    .2198678
                   dummy2_213 |   .0963529   .0618505     1.56   0.119    -.0249641    .2176699
                   dummy2_214 |   .0981368    .063767     1.54   0.124    -.0269394     .223213
                   dummy2_215 |   .0925074   .0642341     1.44   0.150    -.0334849    .2184997
                   dummy2_216 |   .0924976   .0638749     1.45   0.148    -.0327902    .2177854
                   dummy2_217 |   .0929673   .0644825     1.44   0.150    -.0335124    .2194469
                   dummy2_218 |     .09478   .0632699     1.50   0.134    -.0293211    .2188811
                   dummy2_219 |   .0945992   .0643161     1.47   0.142     -.031554    .2207524
                   dummy2_220 |   .0938024   .0641158     1.46   0.144    -.0319578    .2195627
                   dummy2_221 |  -.0823619   .0627212    -1.31   0.189    -.2053867     .040663
                   dummy2_222 |  -.0638377   .0630605    -1.01   0.312    -.1875281    .0598528
                   dummy2_223 |  -.0810361    .063137    -1.28   0.200    -.2048766    .0428045
                   dummy2_224 |  -.0773433    .061308    -1.26   0.207    -.1975963    .0429098
                   dummy2_225 |  -.0810495    .062754    -1.29   0.197    -.2041386    .0420396
                   dummy2_226 |  -.0820409   .0636243    -1.29   0.197    -.2068372    .0427554
                   dummy2_227 |  -.0561393   .0577354    -0.97   0.331    -.1693847    .0571061
                   dummy2_228 |  -.0768537   .0616735    -1.25   0.213    -.1978236    .0441162
                   dummy2_229 |  -.0816465   .0631082    -1.29   0.196    -.2054304    .0421374
                   dummy2_230 |  -.0821526   .0634441    -1.29   0.196    -.2065954    .0422902
                   dummy2_231 |  -.0813445   .0629444    -1.29   0.196    -.2048071    .0421181
                   dummy2_232 |  -.0798034   .0623924    -1.28   0.201    -.2021833    .0425765
                   dummy2_233 |   -.074855   .0602946    -1.24   0.215    -.1931203    .0434103
                   dummy2_234 |  -.0764832   .0610914    -1.25   0.211    -.1963113    .0433448
                   dummy2_235 |  -.0807564   .0626606    -1.29   0.198    -.2036625    .0421497
                   dummy2_236 |   -.078741   .0637566    -1.24   0.217    -.2037968    .0463148
                   dummy2_237 |  -.0843518   .0641264    -1.32   0.189    -.2101329    .0414293
                   dummy2_238 |  -.0842188   .0640436    -1.32   0.189    -.2098376    .0413999
                   dummy2_239 |  -.0839735   .0641858    -1.31   0.191    -.2098712    .0419242
                   dummy2_240 |  -.0819506    .063428    -1.29   0.197    -.2063619    .0424607
                   dummy2_241 |  -.0824366   .0636882    -1.29   0.196    -.2073583     .042485
                   dummy2_242 |  -.0832902   .0636766    -1.31   0.191    -.2081891    .0416087
                   dummy2_243 |   .0389739   .0644718     0.60   0.546    -.0874848    .1654326
                   dummy2_244 |   .0594426   .0600144     0.99   0.322     -.058273    .1771582
                   dummy2_245 |   .0405005    .064231     0.63   0.528    -.0854857    .1664868
                   dummy2_246 |    .043689   .0624564     0.70   0.484    -.0788164    .1661944
                   dummy2_247 |   .0398302   .0640106     0.62   0.534    -.0857237    .1653841
                   dummy2_248 |   .0399974   .0643802     0.62   0.535    -.0862815    .1662762
                   dummy2_249 |   .0619235   .0657115     0.94   0.346    -.0669667    .1908138
                   dummy2_250 |   .0429793   .0637723     0.67   0.500    -.0821073    .1680658
                   dummy2_251 |   .0400733   .0641709     0.62   0.532    -.0857951    .1659418
                   dummy2_252 |   .0402512   .0642087     0.63   0.531    -.0856914    .1661938
                   dummy2_253 |   .0402441   .0640707     0.63   0.530    -.0854277     .165916
                   dummy2_254 |   .0408504   .0638966     0.64   0.523    -.0844801    .1661808
                   dummy2_255 |   .0417342   .0631809     0.66   0.509    -.0821925    .1656608
                   dummy2_256 |   .0427676   .0631542     0.68   0.498    -.0811065    .1666417
                   dummy2_257 |   .0418947     .06332     0.66   0.508    -.0823048    .1660942
                   dummy2_258 |   .0440556   .0641024     0.69   0.492    -.0816785    .1697897
                   dummy2_259 |   .0385476    .064588     0.60   0.551     -.088139    .1652342
                   dummy2_260 |   .0385202   .0640661     0.60   0.548    -.0871426     .164183
                   dummy2_261 |   .0388633    .064473     0.60   0.547    -.0875977    .1653243
                   dummy2_262 |   .0411166   .0644187     0.64   0.523    -.0852379    .1674712
                   dummy2_263 |    .040498   .0642682     0.63   0.529    -.0855613    .1665573
                   dummy2_264 |   .0396498   .0641747     0.62   0.537    -.0862262    .1655257
                        _cons |   .5209013   .0641312     8.12   0.000     .3951107    .6466918
-----------------------------------------------------------------------------------------------

. eststo table5_8

. reg pmr labourproductivityleaderklems l.tecnogapklemsLP ind_trend l.tradelib l.per108 l.per403 l.per404 l.per505  y_*  dum
> my*  if sample4_5==1

      Source |       SS       df       MS              Number of obs =    1863
-------------+------------------------------           F(271,  1591) =  219.20
       Model |  498.528634   271  1.83958906           Prob > F      =  0.0000
    Residual |  13.3518576  1591  .008392117           R-squared     =  0.9739
-------------+------------------------------           Adj R-squared =  0.9695
       Total |  511.880492  1862  .274908964           Root MSE      =  .09161

-----------------------------------------------------------------------------------------------
                          pmr |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
------------------------------+----------------------------------------------------------------
labourproductivityleaderklems |  -.1021134   .3065805    -0.33   0.739    -.7034576    .4992308
                              |
              tecnogapklemsLP |
                          L1. |  -.0001911   .0018905    -0.10   0.919    -.0038993     .003517
                              |
                    ind_trend |   .0380403   .0367427     1.04   0.301     -.034029    .1101096
                              |
                     tradelib |
                          L1. |  -4.99e-07   .0056202    -0.00   1.000    -.0110243    .0110233
                              |
                       per108 |
                          L1. |  -.0064885   .0028273    -2.29   0.022    -.0120342   -.0009428
                              |
                       per403 |
                          L1. |  -.0679712   .0030638   -22.19   0.000    -.0739808   -.0619616
                              |
                       per404 |
                          L1. |  -.0438481   .0066738    -6.57   0.000    -.0569385   -.0307578
                              |
                       per505 |
                          L1. |   .2708133   .0069905    38.74   0.000     .2571017    .2845248
                              |
                          y_1 |          0  (omitted)
                          y_2 |          0  (omitted)
                          y_3 |   .0530298   .0106289     4.99   0.000     .0321816    .0738779
                          y_4 |    .076184   .0107034     7.12   0.000     .0551897    .0971783
                          y_5 |  -.2143343   .0104328   -20.54   0.000    -.2347977   -.1938709
                          y_6 |  -.1895685   .0108249   -17.51   0.000    -.2108012   -.1683359
                          y_7 |  -.1909655   .0106839   -17.87   0.000    -.2119216   -.1700094
                          y_8 |  -.2188242   .0107929   -20.27   0.000     -.239994   -.1976544
                          y_9 |  -.5306328   .0110699   -47.93   0.000    -.5523459   -.5089196
                         y_10 |  -.5184534   .0112372   -46.14   0.000    -.5404947   -.4964121
                         y_11 |  -.5050746   .0113364   -44.55   0.000    -.5273105   -.4828387
                     dummy2_1 |  -1.183309   .1543985    -7.66   0.000    -1.486155   -.8804631
                     dummy2_2 |  -1.171478   .1481422    -7.91   0.000    -1.462053   -.8809039
                     dummy2_3 |  -1.182634   .1532628    -7.72   0.000    -1.483252   -.8820157
                     dummy2_4 |  -1.183294    .150655    -7.85   0.000    -1.478797   -.8877907
                     dummy2_5 |  -1.183523    .156979    -7.54   0.000     -1.49143   -.8756155
                     dummy2_6 |  -1.182846   .1544244    -7.66   0.000    -1.485743   -.8799495
                     dummy2_7 |  -1.165086   .1194631    -9.75   0.000    -1.399408   -.9307647
                     dummy2_8 |  -1.181304   .1475838    -8.00   0.000    -1.470783   -.8918252
                     dummy2_9 |  -1.183074   .1523582    -7.77   0.000    -1.481918   -.8842302
                    dummy2_10 |  -1.182907   .1528665    -7.74   0.000    -1.482748   -.8830662
                    dummy2_11 |  -1.183171   .1535885    -7.70   0.000    -1.484428   -.8819138
                    dummy2_12 |  -1.183043   .1478989    -8.00   0.000    -1.473141    -.892946
                    dummy2_13 |    -1.1976   .1608317    -7.45   0.000    -1.513064   -.8821356
                    dummy2_14 |  -1.182907   .1499213    -7.89   0.000    -1.476971   -.8888427
                    dummy2_15 |  -1.183064   .1517403    -7.80   0.000    -1.480695   -.8854317
                    dummy2_16 |  -1.180499   .1552885    -7.60   0.000    -1.485091    -.875908
                    dummy2_17 |  -1.183527   .1565589    -7.56   0.000    -1.490611    -.876444
                    dummy2_18 |    -1.1828   .1517015    -7.80   0.000    -1.480356   -.8852444
                    dummy2_19 |  -1.183265   .1558548    -7.59   0.000    -1.488967   -.8775625
                    dummy2_20 |  -1.182021   .1533885    -7.71   0.000    -1.482886   -.8811564
                    dummy2_21 |  -1.182329   .1546321    -7.65   0.000    -1.485633   -.8790245
                    dummy2_22 |  -1.182206   .1511224    -7.82   0.000    -1.478626   -.8857862
                    dummy2_23 |   .0402511   .1472223     0.27   0.785    -.2485191    .3290213
                    dummy2_24 |   .0568697   .0959514     0.59   0.553    -.1313347    .2450741
                    dummy2_25 |   .0412373   .1439511     0.29   0.775    -.2411165     .323591
                    dummy2_26 |   .0407677   .1402058     0.29   0.771    -.2342398    .3157752
                    dummy2_27 |    .040744   .1452536     0.28   0.779    -.2441646    .3256526
                    dummy2_28 |    .059008   .1444422     0.41   0.683     -.224309    .3423251
                    dummy2_29 |   .0467649   .1408262     0.33   0.740    -.2294595    .3229894
                    dummy2_30 |   .0422853   .1380757     0.31   0.759    -.2285441    .3131147
                    dummy2_31 |   .0211819   .1422332     0.15   0.882    -.2578022    .3001661
                    dummy2_32 |   .0408455   .1465554     0.28   0.781    -.2466164    .3283074
                    dummy2_33 |   .0406195   .1434181     0.28   0.777    -.2406888    .3219278
                    dummy2_34 |   .0410371   .1418759     0.29   0.772    -.2372463    .3193205
                    dummy2_35 |   .0221568   .1344307     0.16   0.869    -.2415231    .2858366
                    dummy2_36 |   .0521941   .1415351     0.37   0.712    -.2254208    .3298089
                    dummy2_37 |   .0410034    .142383     0.29   0.773    -.2382746    .3202813
                    dummy2_38 |   .0437111   .1437843     0.30   0.761    -.2383155    .3257377
                    dummy2_39 |   .0399345   .1485249     0.27   0.788    -.2513906    .3312596
                    dummy2_40 |    .040395   .1480992     0.27   0.785    -.2500951    .3308851
                    dummy2_41 |    .039904    .149758     0.27   0.790    -.2538398    .3336477
                    dummy2_42 |   .0416023   .1482049     0.28   0.779     -.249095    .3322997
                    dummy2_43 |    .030625   .1488339     0.21   0.837    -.2613061    .3225561
                    dummy2_44 |   .0406972   .1472579     0.28   0.782    -.2481427    .3295371
                    dummy2_45 |  -.2887832   .1619348    -1.78   0.075    -.6064112    .0288447
                    dummy2_46 |          0  (omitted)
                    dummy2_47 |  -.2881348    .160344    -1.80   0.073    -.6026424    .0263729
                    dummy2_48 |  -.2759288   .1520914    -1.81   0.070    -.5742495    .0223919
                    dummy2_49 |          0  (omitted)
                    dummy2_50 |  -.2754422   .1565085    -1.76   0.079    -.5824268    .0315424
                    dummy2_51 |  -.2621017   .1708975    -1.53   0.125    -.5973097    .0731063
                    dummy2_52 |  -.2870565   .1580833    -1.82   0.070      -.59713     .023017
                    dummy2_53 |  -.2886219   .1612728    -1.79   0.074    -.6049515    .0277076
                    dummy2_54 |  -.2884749    .161806    -1.78   0.075    -.6058503    .0289005
                    dummy2_55 |    -.28859   .1614423    -1.79   0.074     -.605252    .0280719
                    dummy2_56 |  -.2885725   .1592664    -1.81   0.070    -.6009665    .0238215
                    dummy2_57 |  -.2748872    .152295    -1.80   0.071    -.5736073    .0238329
                    dummy2_58 |  -.2753476   .1526892    -1.80   0.072    -.5748408    .0241456
                    dummy2_59 |  -.2886778   .1599906    -1.80   0.071    -.6024924    .0251368
                    dummy2_60 |  -.2855591   .1620494    -1.76   0.078    -.6034119    .0322937
                    dummy2_61 |  -.2890393   .1638852    -1.76   0.078     -.610493    .0324143
                    dummy2_62 |  -.2888977    .163425    -1.77   0.077    -.6094487    .0316534
                    dummy2_63 |  -.2888182   .1637091    -1.76   0.078    -.6099264    .0322901
                    dummy2_64 |  -.2875599   .1626677    -1.77   0.077    -.6066255    .0315057
                    dummy2_65 |  -.2879083   .1633473    -1.76   0.078     -.608307    .0324903
                    dummy2_66 |  -.2754044   .1583093    -1.74   0.082    -.5859212    .0351123
                    dummy2_67 |  -.6607142   .1485405    -4.45   0.000    -.9520699   -.3693585
                    dummy2_68 |   -.647385   .1134223    -5.71   0.000     -.869858   -.4249121
                    dummy2_69 |  -.6599734    .147772    -4.47   0.000    -.9498218   -.3701251
                    dummy2_70 |  -.6608188   .1427917    -4.63   0.000    -.9408984   -.3807392
                    dummy2_71 |   -.660787   .1502259    -4.40   0.000    -.9554486   -.3661254
                    dummy2_72 |  -.6602918   .1502059    -4.40   0.000    -.9549141   -.3656696
                    dummy2_73 |  -.5805814   .1346123    -4.31   0.000    -.8446175   -.3165453
                    dummy2_74 |  -.6589676   .1473913    -4.47   0.000    -.9480691    -.369866
                    dummy2_75 |  -.6605584   .1501673    -4.40   0.000    -.9551049   -.3660119
                    dummy2_76 |  -.6603926   .1504693    -4.39   0.000    -.9555316   -.3652536
                    dummy2_77 |   -.660578   .1501509    -4.40   0.000    -.9550924   -.3660635
                    dummy2_78 |  -.6604497   .1504122    -4.39   0.000    -.9554766   -.3654228
                    dummy2_79 |  -.6599029   .1473551    -4.48   0.000    -.9489334   -.3708723
                    dummy2_80 |  -.6602448   .1488581    -4.44   0.000    -.9522234   -.3682662
                    dummy2_81 |  -.6606165   .1487488    -4.44   0.000    -.9523807   -.3688523
                    dummy2_82 |  -.6577481   .1497546    -4.39   0.000    -.9514852    -.364011
                    dummy2_83 |  -.6609306   .1518547    -4.35   0.000     -.958787   -.3630743
                    dummy2_84 |  -.6606568   .1501562    -4.40   0.000    -.9551816    -.366132
                    dummy2_85 |  -.6607003   .1514055    -4.36   0.000    -.9576756   -.3637251
                    dummy2_86 |  -.6594911   .1510807    -4.37   0.000    -.9558293    -.363153
                    dummy2_87 |  -.6596605   .1501307    -4.39   0.000    -.9541354   -.3651856
                    dummy2_88 |  -.6602763   .1519701    -4.34   0.000     -.958359   -.3621936
                    dummy2_89 |  -.0356936   .1504051    -0.24   0.812    -.3307065    .2593194
                    dummy2_90 |          0  (omitted)
                    dummy2_91 |  -.1015863    .151207    -0.67   0.502    -.3981722    .1949995
                    dummy2_92 |  -.1014786   .1445718    -0.70   0.483    -.3850499    .1820926
                    dummy2_93 |  -.1011189   .1501372    -0.67   0.501    -.3956063    .1933686
                    dummy2_94 |   -.101305   .1505299    -0.67   0.501    -.3965628    .1939528
                    dummy2_95 |  -.0694704   .1659964    -0.42   0.676     -.395065    .2561242
                    dummy2_96 |  -.1001463   .1458769    -0.69   0.492    -.3862775    .1859849
                    dummy2_97 |  -.1014165   .1474935    -0.69   0.492    -.3907186    .1878855
                    dummy2_98 |  -.1013567   .1531414    -0.66   0.508    -.4017369    .1990235
                    dummy2_99 |  -.1017774   .1478169    -0.69   0.491    -.3917137    .1881588
                   dummy2_100 |  -.0965101   .1476752    -0.65   0.514    -.3861684    .1931483
                   dummy2_101 |  -.1022687    .140908    -0.73   0.468    -.3786536    .1741162
                   dummy2_102 |  -.1020367    .148214    -0.69   0.491    -.3927518    .1886785
                   dummy2_103 |  -.1007961   .1455805    -0.69   0.489    -.3863458    .1847536
                   dummy2_104 |  -.0637001   .1440805    -0.44   0.658    -.3463077    .2189076
                   dummy2_105 |  -.0352616   .1498567    -0.24   0.814     -.329199    .2586759
                   dummy2_106 |  -.0335559   .1478369    -0.23   0.820    -.3235315    .2564197
                   dummy2_107 |          0  (omitted)
                   dummy2_108 |          0  (omitted)
                   dummy2_109 |  -.0478422   .1501807    -0.32   0.750     -.342415    .2467307
                   dummy2_110 |          0  (omitted)
                   dummy2_111 |   -.263233   .1468831    -1.79   0.073    -.5513377    .0248718
                   dummy2_112 |  -.2513336   .1282586    -1.96   0.050    -.5029073    .0002401
                   dummy2_113 |   -.262572   .1453541    -1.81   0.071    -.5476778    .0225338
                   dummy2_114 |  -.2633683   .1476178    -1.78   0.075    -.5529142    .0261776
                   dummy2_115 |  -.2632438   .1468296    -1.79   0.073    -.5512436    .0247561
                   dummy2_116 |  -.2628615   .1475125    -1.78   0.075    -.5522009    .0264779
                   dummy2_117 |  -.2196029   .1410639    -1.56   0.120    -.4962935    .0570878
                   dummy2_118 |  -.2616389   .1437393    -1.82   0.069    -.5435772    .0202993
                   dummy2_119 |  -.2631481   .1480811    -1.78   0.076    -.5536028    .0273065
                   dummy2_120 |  -.2629434    .148321    -1.77   0.076    -.5538685    .0279818
                   dummy2_121 |  -.2630769   .1471255    -1.79   0.074    -.5516572    .0255033
                   dummy2_122 |  -.2630048   .1475478    -1.78   0.075    -.5524134    .0264037
                   dummy2_123 |  -.2623873   .1437915    -1.82   0.068     -.544428    .0196535
                   dummy2_124 |  -.2627595   .1420623    -1.85   0.065    -.5414085    .0158895
                   dummy2_125 |  -.2630896   .1473101    -1.79   0.074    -.5520319    .0258526
                   dummy2_126 |   -.260532   .1490416    -1.75   0.081    -.5528706    .0318066
                   dummy2_127 |  -.2636029   .1503912    -1.75   0.080    -.5585886    .0313828
                   dummy2_128 |  -.2633499   .1488538    -1.77   0.077    -.5553201    .0286204
                   dummy2_129 |  -.2633983   .1502029    -1.75   0.080    -.5580148    .0312182
                   dummy2_130 |  -.2620561   .1486163    -1.76   0.078    -.5535605    .0294482
                   dummy2_131 |  -.2625844   .1506943    -1.74   0.082    -.5581647    .0329959
                   dummy2_132 |  -.2628868   .1501301    -1.75   0.080    -.5573604    .0315869
                   dummy2_133 |  -.7195181   .1494875    -4.81   0.000    -1.012731   -.4263048
                   dummy2_134 |  -.6791385   .1035094    -6.56   0.000    -.8821677   -.4761092
                   dummy2_135 |  -.7467632   .1585962    -4.71   0.000    -1.057843   -.4356838
                   dummy2_136 |  -.7119917   .1464892    -4.86   0.000    -.9993238   -.4246596
                   dummy2_137 |  -.6946209   .1481982    -4.69   0.000    -.9853051   -.4039367
                   dummy2_138 |  -.7221693   .1528209    -4.73   0.000    -1.021921   -.4224177
                   dummy2_139 |          0  (omitted)
                   dummy2_140 |   -.722846   .1528232    -4.73   0.000    -1.022602     -.42309
                   dummy2_141 |  -.7067059   .1510047    -4.68   0.000    -1.002895   -.4105168
                   dummy2_142 |   -.703139   .1507183    -4.67   0.000    -.9987664   -.4075116
                   dummy2_143 |  -.7383619   .1567606    -4.71   0.000    -1.045841   -.4308828
                   dummy2_144 |  -.7281879   .1546705    -4.71   0.000    -1.031567   -.4248086
                   dummy2_145 |  -.7652933   .1652945    -4.63   0.000    -1.089511   -.4410754
                   dummy2_146 |  -.7335826   .1554336    -4.72   0.000    -1.038459   -.4287065
                   dummy2_147 |  -.7008442   .1487547    -4.71   0.000    -.9926201   -.4090683
                   dummy2_148 |  -.7315518    .155967    -4.69   0.000    -1.037474   -.4256294
                   dummy2_149 |  -.8263873   .1981423    -4.17   0.000    -1.215035     -.43774
                   dummy2_150 |  -.7471701   .1580672    -4.73   0.000    -1.057212   -.4371283
                   dummy2_151 |  -.7743112   .1698313    -4.56   0.000    -1.107428   -.4411945
                   dummy2_152 |   -.730236   .1551198    -4.71   0.000    -1.034497   -.4259753
                   dummy2_153 |  -.8015612    .183773    -4.36   0.000    -1.162024   -.4410985
                   dummy2_154 |  -.8337082   .2019856    -4.13   0.000    -1.229894   -.4375224
                   dummy2_155 |   -.976021   .1491608    -6.54   0.000    -1.268593   -.6834487
                   dummy2_156 |          0  (omitted)
                   dummy2_157 |   -.975453   .1490845    -6.54   0.000    -1.267876   -.6830303
                   dummy2_158 |  -.9760917   .1372909    -7.11   0.000    -1.245382   -.7068016
                   dummy2_159 |   -.975648   .1439668    -6.78   0.000    -1.258033   -.6932635
                   dummy2_160 |  -.9755599    .150161    -6.50   0.000    -1.270094   -.6810257
                   dummy2_161 |  -.9773206   .1380972    -7.08   0.000    -1.248192   -.7064491
                   dummy2_162 |  -.9742978    .146076    -6.67   0.000     -1.26082   -.6877761
                   dummy2_163 |  -.9757991   .1459999    -6.68   0.000    -1.262171   -.6894266
                   dummy2_164 |  -.9755248   .1488915    -6.55   0.000    -1.267569   -.6834805
                   dummy2_165 |   -.975824   .1482968    -6.58   0.000    -1.266702   -.6849463
                   dummy2_166 |  -.9675753   .1469688    -6.58   0.000    -1.255848   -.6793024
                   dummy2_167 |  -.9665831   .1295218    -7.46   0.000    -1.220634   -.7125318
                   dummy2_168 |  -.9753764   .1392991    -7.00   0.000    -1.248605   -.7021473
                   dummy2_169 |  -.9758672   .1496677    -6.52   0.000    -1.269434   -.6823005
                   dummy2_170 |  -.9729019   .1510394    -6.44   0.000    -1.269159   -.6766447
                   dummy2_171 |   -.976286   .1528716    -6.39   0.000    -1.276137   -.6764351
                   dummy2_172 |  -.9760471   .1517232    -6.43   0.000    -1.273646   -.6784487
                   dummy2_173 |  -.9760674   .1527546    -6.39   0.000    -1.275689   -.6764461
                   dummy2_174 |  -.9534712   .1535957    -6.21   0.000    -1.254742      -.6522
                   dummy2_175 |  -.9750766   .1523323    -6.40   0.000     -1.27387   -.6762834
                   dummy2_176 |  -.9755187   .1517166    -6.43   0.000    -1.273104   -.6779332
                   dummy2_177 |  -.2731137   .1607004    -1.70   0.089    -.5883205    .0420931
                   dummy2_178 |  -.2606756   .1266114    -2.06   0.040    -.5090183   -.0123328
                   dummy2_179 |  -.2725095   .1594302    -1.71   0.088    -.5852247    .0402058
                   dummy2_180 |  -.2730972   .1582586    -1.73   0.085    -.5835145    .0373202
                   dummy2_181 |  -.2731194   .1602882    -1.70   0.089    -.5875176    .0412788
                   dummy2_182 |  -.2727827   .1612705    -1.69   0.091    -.5891077    .0435423
                   dummy2_183 |  -.2605153    .158029    -1.65   0.099    -.5704824    .0494517
                   dummy2_184 |  -.2712777   .1562274    -1.74   0.083     -.577711    .0351555
                   dummy2_185 |  -.2730181    .160315    -1.70   0.089    -.5874689    .0414326
                   dummy2_186 |  -.2728504    .161911    -1.69   0.092    -.5904317    .0447308
                   dummy2_187 |  -.2729616   .1607598    -1.70   0.090    -.5882848    .0423616
                   dummy2_188 |  -.2729681    .157631    -1.73   0.084    -.5821544    .0362182
                   dummy2_189 |  -.2722665   .1537325    -1.77   0.077    -.5738062    .0292731
                   dummy2_190 |  -.2726478   .1549638    -1.76   0.079    -.5766026    .0313069
                   dummy2_191 |  -.2729442   .1598414    -1.71   0.088    -.5864662    .0405778
                   dummy2_192 |  -.2700815   .1622257    -1.66   0.096    -.5882801    .0481172
                   dummy2_193 |  -.2733259   .1625973    -1.68   0.093    -.5922533    .0456015
                   dummy2_194 |  -.2733146    .163088    -1.68   0.094    -.5932047    .0465754
                   dummy2_195 |          0  (omitted)
                   dummy2_196 |          0  (omitted)
                   dummy2_197 |  -.2723262   .1627716    -1.67   0.095    -.5915955    .0469431
                   dummy2_198 |  -.2726358   .1618567    -1.68   0.092    -.5901107    .0448391
                   dummy2_199 |  -.8036435   .1496689    -5.37   0.000    -1.097212   -.5100746
                   dummy2_200 |  -.7905209   .1133245    -6.98   0.000    -1.012802   -.5682399
                   dummy2_201 |  -.8029463   .1480068    -5.43   0.000    -1.093255   -.5126374
                   dummy2_202 |  -.8035368   .1362091    -5.90   0.000    -1.070705   -.5363687
                   dummy2_203 |  -.8035349   .1503789    -5.34   0.000    -1.098497   -.5085733
                   dummy2_204 |  -.8033021    .151027    -5.32   0.000    -1.099535   -.5070694
                   dummy2_205 |  -.7876495   .1346018    -5.85   0.000    -1.051665    -.523634
                   dummy2_206 |  -.8019734   .1475097    -5.44   0.000    -1.091307   -.5126395
                   dummy2_207 |  -.8032634   .1467873    -5.47   0.000     -1.09118   -.5153465
                   dummy2_208 |  -.8030723   .1481969    -5.42   0.000    -1.093754   -.5123906
                   dummy2_209 |  -.8034521   .1486623    -5.40   0.000    -1.095047   -.5118576
                   dummy2_210 |  -.8032933   .1477948    -5.44   0.000    -1.093186   -.5134003
                   dummy2_211 |   -.808739   .1419204    -5.70   0.000     -1.08711   -.5303684
                   dummy2_212 |  -.8030901    .146866    -5.47   0.000    -1.091161   -.5150188
                   dummy2_213 |  -.8031647   .1458424    -5.51   0.000    -1.089228   -.5171012
                   dummy2_214 |  -.8007381   .1503615    -5.33   0.000    -1.095666   -.5058105
                   dummy2_215 |   -.803919   .1514628    -5.31   0.000    -1.101007   -.5068313
                   dummy2_216 |   -.803558   .1506159    -5.34   0.000    -1.098984   -.5081315
                   dummy2_217 |   -.803901   .1520487    -5.29   0.000    -1.102138   -.5056641
                   dummy2_218 |   -.802155   .1491893    -5.38   0.000    -1.094783   -.5095268
                   dummy2_219 |  -.8028864   .1516562    -5.29   0.000    -1.100354   -.5054194
                   dummy2_220 |  -.8036691   .1511839    -5.32   0.000     -1.10021   -.5071286
                   dummy2_221 |  -1.194842   .1478955    -8.08   0.000    -1.484932   -.9047514
                   dummy2_222 |  -1.184189   .1486957    -7.96   0.000    -1.475849   -.8925288
                   dummy2_223 |  -1.194294   .1488761    -8.02   0.000    -1.486308   -.9022805
                   dummy2_224 |  -1.194954   .1445633    -8.27   0.000    -1.478509   -.9113994
                   dummy2_225 |  -1.194909   .1479728    -8.08   0.000    -1.485151   -.9046665
                   dummy2_226 |   -1.19444    .150025    -7.96   0.000    -1.488708    -.900173
                   dummy2_227 |   -1.17894   .1361391    -8.66   0.000    -1.445971   -.9119097
                   dummy2_228 |  -1.193077   .1454251    -8.20   0.000    -1.478322   -.9078322
                   dummy2_229 |  -1.194642    .148808    -8.03   0.000    -1.486522   -.9027614
                   dummy2_230 |  -1.194508   .1496001    -7.98   0.000    -1.487942   -.9010742
                   dummy2_231 |  -1.194646   .1484218    -8.05   0.000    -1.485769   -.9035232
                   dummy2_232 |  -1.194524   .1471201    -8.12   0.000    -1.483094   -.9059543
                   dummy2_233 |   -1.19394   .1421737    -8.40   0.000    -1.472807   -.9150721
                   dummy2_234 |  -1.194297   .1440524    -8.29   0.000    -1.476849   -.9117443
                   dummy2_235 |  -1.194745   .1477527    -8.09   0.000    -1.484556   -.9049349
                   dummy2_236 |  -1.192002    .150337    -7.93   0.000    -1.486882    -.897123
                   dummy2_237 |  -1.194981   .1512089    -7.90   0.000    -1.491571   -.8983918
                   dummy2_238 |  -1.194924   .1510138    -7.91   0.000    -1.491131   -.8987169
                   dummy2_239 |   -1.19483   .1513491    -7.89   0.000    -1.491694   -.8979652
                   dummy2_240 |   -1.19347   .1495622    -7.98   0.000     -1.48683   -.9001103
                   dummy2_241 |  -1.193803   .1501757    -7.95   0.000    -1.488366   -.8992395
                   dummy2_242 |  -1.194076   .1501484    -7.95   0.000    -1.488586   -.8995669
                   dummy2_243 |  -1.307674   .1520235    -8.60   0.000    -1.605861   -1.009486
                   dummy2_244 |  -1.296072   .1415129    -9.16   0.000    -1.573644   -1.018501
                   dummy2_245 |  -1.307007   .1514556    -8.63   0.000    -1.604081   -1.009934
                   dummy2_246 |  -1.307615    .147271    -8.88   0.000    -1.596481   -1.018749
                   dummy2_247 |  -1.307557   .1509358    -8.66   0.000    -1.603611   -1.011503
                   dummy2_248 |  -1.307127   .1518073    -8.61   0.000     -1.60489   -1.009363
                   dummy2_249 |  -1.310375   .1549466    -8.46   0.000    -1.614296   -1.006454
                   dummy2_250 |  -1.305844    .150374    -8.68   0.000    -1.600796   -1.010892
                   dummy2_251 |  -1.307343   .1513139    -8.64   0.000    -1.604139   -1.010548
                   dummy2_252 |  -1.307207    .151403    -8.63   0.000    -1.604177   -1.010236
                   dummy2_253 |  -1.307364   .1510776    -8.65   0.000    -1.603696   -1.011031
                   dummy2_254 |  -1.307233   .1506672    -8.68   0.000     -1.60276   -1.011706
                   dummy2_255 |  -1.308712   .1489796    -8.78   0.000    -1.600929   -1.016495
                   dummy2_256 |  -1.307015   .1489164    -8.78   0.000    -1.599108   -1.014922
                   dummy2_257 |  -1.307448   .1493076    -8.76   0.000    -1.600309   -1.014588
                   dummy2_258 |   -1.30466   .1511524    -8.63   0.000    -1.601139   -1.008181
                   dummy2_259 |   -1.30775   .1522975    -8.59   0.000    -1.606475   -1.009025
                   dummy2_260 |  -1.307519   .1510668    -8.66   0.000     -1.60383   -1.011209
                   dummy2_261 |  -1.307536   .1520263    -8.60   0.000    -1.605729   -1.009343
                   dummy2_262 |  -1.306342   .1518983    -8.60   0.000    -1.604284     -1.0084
                   dummy2_263 |  -1.306588   .1515434    -8.62   0.000    -1.603834   -1.009342
                   dummy2_264 |  -1.306989   .1513229    -8.64   0.000    -1.603803   -1.010176
                        _cons |   2.571625   .1512203    17.01   0.000     2.275013    2.868237
-----------------------------------------------------------------------------------------------

. eststo table5_9

. 
. esttab table5_1 table5_2 table5_4 table5_5 table5_6 table5_7 table5_8 table5_9 using  "BCDVS_95_4_2013tables.csv", append 
> label  nodepvar star(* 0.10 ** 0.05 *** 0.01) se  drop(y_* dummy*) compress csv
(output written to BCDVS_95_4_2013tables.csv)

. 
. 
. 
. *************************************************************************************
. *******************      Interactions Regressions (table 6)     **********************
. *************************************************************************************
. 
. 
. ****************************************************************
. *******************      LEGAL ORIGIN     **********************
. ****************************************************************
. 
. 
. gen lo_eng=0

. replace lo_eng=1 if iso_code=="Can" | iso_code=="UK" | iso_code=="USA"
(726 real changes made)

. 
. gen lo_ger=0

. replace lo_ger=1 if iso_code=="Cze" | iso_code=="Ger" | iso_code=="Hun" | iso_code=="Jap" 
(968 real changes made)

. 
. gen lo_fr=0

. replace lo_fr=1 if iso_code=="Fra" | iso_code=="Ita" | iso_code=="Net" | iso_code=="Spa" 
(968 real changes made)

. 
. gen lo_nor=0

. replace lo_nor=1 if iso_code=="Swe"
(242 real changes made)

. 
. label var lo_eng "English legal origin"

. label var lo_ger "German legal origin"

. label var lo_fr  "French legal origin"

. label var lo_nor "Nordic legal origin"

. 
. 
. gen CPI_LOe=compindex*lo_eng
(363 missing values generated)

. gen CPI_LOg=compindex*lo_ger
(363 missing values generated)

. gen CPI_LOf=compindex*lo_fr
(363 missing values generated)

. gen CPI_LOn=compindex*lo_nor
(363 missing values generated)

. 
. 
. label var CPI_LOe "CPI aggregate LE English"

. label var CPI_LOg "CPI aggregate LE German"

. label var CPI_LOf "CPI aggregate LE French"

. label var CPI_LOn "CPI aggregate LE Nordic"

. 
. 
. reg tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.pmr l.tradelib l.CPI_LOe l.CPI_LOg l.CPI_LOf l.CP
> I_LOn lo_en lo_fr lo_nor y_* ind* if tfpcorrectedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & pcm
> poolklems<3, cl(country)

Linear regression                                      Number of obs =    1847
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.1137
                                                       Root MSE      =   .0653

                                     (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------------
                   |               Robust
tfpcorrectedover~s |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0726116   .0238696     3.04   0.011     .0200749    .1251483
                   |
     tecnogapklems |
               L1. |   .0046471    .006058     0.77   0.459    -.0086865    .0179807
                   |
         ind_trend |   .0076075   .0020535     3.70   0.003     .0030878    .0121273
                   |
               pmr |
               L1. |  -.0121007   .0051271    -2.36   0.038    -.0233853    -.000816
                   |
          tradelib |
               L1. |   .0053967   .0020577     2.62   0.024     .0008678    .0099255
                   |
           CPI_LOe |
               L1. |   .0881114   .0142545     6.18   0.000     .0567375    .1194853
                   |
           CPI_LOg |
               L1. |   .1817809   .0324262     5.61   0.000     .1104112    .2531506
                   |
           CPI_LOf |
               L1. |   .0205593   .0406489     0.51   0.623    -.0689083    .1100269
                   |
           CPI_LOn |
               L1. |   .2627671   .1167403     2.25   0.046     .0058234    .5197108
                   |
            lo_eng |   .0358508   .0138887     2.58   0.026     .0052818    .0664197
             lo_fr |   .0717062   .0247217     2.90   0.014     .0172941    .1261183
            lo_nor |  -.0939518   .0825883    -1.14   0.279    -.2757275     .087824
               y_1 |          0  (omitted)
               y_2 |  -.0055274   .0104949    -0.53   0.609    -.0286265    .0175717
               y_3 |  -.0019524    .008795    -0.22   0.828      -.02131    .0174052
               y_4 |  -.0261589   .0109847    -2.38   0.036     -.050336   -.0019819
               y_5 |  -.0009174    .007247    -0.13   0.902     -.016868    .0150331
               y_6 |   .0061286    .006771     0.91   0.385    -.0087741    .0210314
               y_7 |  -.0210629   .0062839    -3.35   0.006    -.0348937    -.007232
               y_8 |  -.0166203   .0071494    -2.32   0.040     -.032356   -.0008846
               y_9 |   -.014099    .008583    -1.64   0.129      -.03299    .0047921
              y_10 |          0  (omitted)
              y_11 |   -.010138   .0048767    -2.08   0.062    -.0208716    .0005957
             ind_1 |   .0174129   .0077504     2.25   0.046     .0003545    .0344714
             ind_2 |  -.0242935   .0160692    -1.51   0.159    -.0596616    .0110746
             ind_3 |  -.0122618   .0064159    -1.91   0.082    -.0263832    .0018595
             ind_4 |  -.0012324   .0113375    -0.11   0.915     -.026186    .0237213
             ind_5 |   .0061456   .0099045     0.62   0.548    -.0156541    .0279454
             ind_6 |   .0020883   .0060798     0.34   0.738    -.0112933    .0154699
             ind_7 |  -.0029711   .0271166    -0.11   0.915    -.0626543    .0567122
             ind_8 |  -.0011315   .0091365    -0.12   0.904    -.0212408    .0189778
             ind_9 |   .0093388   .0084556     1.10   0.293    -.0092718    .0279494
            ind_10 |   .0113661   .0072103     1.58   0.143    -.0045036    .0272357
            ind_11 |  -.0007075   .0060377    -0.12   0.909    -.0139963    .0125812
            ind_12 |   .0116778   .0092168     1.27   0.231    -.0086082    .0319639
            ind_13 |   .0247305   .0195015     1.27   0.231     -.018192    .0676529
            ind_14 |  -.0032666   .0118995    -0.27   0.789    -.0294573     .022924
            ind_15 |   .0089995   .0090227     1.00   0.340    -.0108594    .0288584
            ind_16 |   .0088105     .00756     1.17   0.268    -.0078288    .0254499
            ind_17 |  -.0106332   .0042371    -2.51   0.029    -.0199591   -.0013073
            ind_18 |  -.0136225   .0056639    -2.41   0.035    -.0260887   -.0011563
            ind_19 |          0  (omitted)
            ind_20 |   .0325253   .0097436     3.34   0.007     .0110797    .0539709
            ind_21 |  -.0064526   .0131599    -0.49   0.634    -.0354172     .022512
            ind_22 |  -.0158588   .0114588    -1.38   0.194    -.0410794    .0093618
         ind_trend |          0  (omitted)
             _cons |  -.0537128   .0178897    -3.00   0.012    -.0930878   -.0143379
------------------------------------------------------------------------------------

. eststo table6_lo_int

. 
. test l.CPI_LOe=l.CPI_LOg

 ( 1)  L.CPI_LOe - L.CPI_LOg = 0

       F(  1,    11) =    7.00
            Prob > F =    0.0228

. test l.CPI_LOe=l.CPI_LOf

 ( 1)  L.CPI_LOe - L.CPI_LOf = 0

       F(  1,    11) =    3.26
            Prob > F =    0.0984

. test l.CPI_LOe=l.CPI_LOn

 ( 1)  L.CPI_LOe - L.CPI_LOn = 0

       F(  1,    11) =    2.03
            Prob > F =    0.1824

. test l.CPI_LOg=l.CPI_LOf

 ( 1)  L.CPI_LOg - L.CPI_LOf = 0

       F(  1,    11) =    8.20
            Prob > F =    0.0154

. test l.CPI_LOg=l.CPI_LOn

 ( 1)  L.CPI_LOg - L.CPI_LOn = 0

       F(  1,    11) =    0.40
            Prob > F =    0.5408

. test l.CPI_LOf=l.CPI_LOn

 ( 1)  L.CPI_LOf - L.CPI_LOn = 0

       F(  1,    11) =    3.34
            Prob > F =    0.0946

. 
. 
. 
. **************************************************************************
. *******************   ENFORCEMENT of CONTRACTS (cost)  *******************
. **************************************************************************
. 
. * enfocontr is not time varying, hence is not identified in the within-panel regression
. * however we can use the dummy least square regression
. 
. label var enfocontrcost "Enforcement Cost"

. 
. gen low_enfc=0

. replace low_enfc=1 if enfocontrcost<=16.2
(726 real changes made)

. replace low_enfc=. if enfocontrcost==.
(11 real changes made, 11 to missing)

. 
. gen mid_enfc=0

. replace mid_enfc=1 if enfocontrcost<=22.7 & enfocontrcost>16.2
(968 real changes made)

. replace mid_enfc=. if enfocontrcost==.
(11 real changes made, 11 to missing)

. 
. gen high_enfc=0

. replace high_enfc=1 if enfocontrcost>22.7
(1221 real changes made)

. replace high_enfc=. if enfocontrcost==.
(11 real changes made, 11 to missing)

. 
. 
. gen CPI_lec=compindex*low_enfc
(363 missing values generated)

. gen CPI_mec=compindex*mid_enfc
(363 missing values generated)

. gen CPI_hec=compindex*high_enfc
(363 missing values generated)

. 
. reg tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.pmr l.tradelib l.CPI_lec l.CPI_mec l.CPI_hec enfo
> contrcost y_* dummy* if tfpcorrectedoverklems>-0.282 & tfpcorrectedoverklems<0.281, cl(country)

Linear regression                                      Number of obs =    1868
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2706
                                                       Root MSE      =  .06453

                                     (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------------
                   |               Robust
tfpcorrectedover~s |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0616979   .0254195     2.43   0.034     .0057501    .1176458
                   |
     tecnogapklems |
               L1. |  -.0044317   .0066369    -0.67   0.518    -.0190393     .010176
                   |
         ind_trend |   .0551398   .0045993    11.99   0.000     .0450169    .0652627
                   |
               pmr |
               L1. |  -.0376189   .0210974    -1.78   0.102     -.084054    .0088161
                   |
          tradelib |
               L1. |   .0149411   .0044923     3.33   0.007     .0050536    .0248287
                   |
           CPI_lec |
               L1. |   .2401359   .1216242     1.97   0.074    -.0275571    .5078289
                   |
           CPI_mec |
               L1. |   .1095983   .0255531     4.29   0.001     .0533562    .1658404
                   |
           CPI_hec |
               L1. |   .0937732   .0367997     2.55   0.027     .0127776    .1747688
                   |
     enfocontrcost |  -.0062743   .0026482    -2.37   0.037     -.012103   -.0004457
               y_1 |          0  (omitted)
               y_2 |   .0133892   .0159077     0.84   0.418    -.0216234    .0484018
               y_3 |   .0173064   .0078114     2.22   0.049     .0001136    .0344991
               y_4 |  -.0062735   .0052051    -1.21   0.253    -.0177299    .0051829
               y_5 |   .0182921   .0148157     1.23   0.243     -.014317    .0509012
               y_6 |   .0184013    .006385     2.88   0.015     .0043479    .0324546
               y_7 |   -.013127   .0071487    -1.84   0.093    -.0288612    .0026072
               y_8 |  -.0099016   .0084422    -1.17   0.266    -.0284828    .0086796
               y_9 |  -.0070983   .0098153    -0.72   0.485    -.0287015     .014505
              y_10 |          0  (omitted)
              y_11 |  -.0111829    .004652    -2.40   0.035    -.0214219   -.0009438
          dummy2_1 |  -.1750563   .0561495    -3.12   0.010    -.2986405   -.0514722
          dummy2_2 |  -.2232935   .0591504    -3.78   0.003    -.3534825   -.0931044
          dummy2_3 |  -.1663499   .0551882    -3.01   0.012    -.2878183   -.0448815
          dummy2_4 |  -.1918238   .0585833    -3.27   0.007    -.3207648   -.0628828
          dummy2_5 |  -.1721817   .0545892    -3.15   0.009    -.2923318   -.0520316
          dummy2_6 |  -.1113705    .056551    -1.97   0.075    -.2358384    .0130975
          dummy2_7 |   -.172287   .0628898    -2.74   0.019    -.3107065   -.0338675
          dummy2_8 |  -.1608898    .062139    -2.59   0.025    -.2976569   -.0241226
          dummy2_9 |  -.1928189   .0571668    -3.37   0.006    -.3186422   -.0669956
         dummy2_10 |  -.1724666   .0563327    -3.06   0.011    -.2964539   -.0484792
         dummy2_11 |  -.1557019   .0567151    -2.75   0.019    -.2805311   -.0308727
         dummy2_12 |  -.1949272   .0599242    -3.25   0.008    -.3268193    -.063035
         dummy2_13 |  -.2099894   .0699463    -3.00   0.012    -.3639402   -.0560387
         dummy2_14 |  -.2031366   .0606236    -3.35   0.006    -.3365682    -.069705
         dummy2_15 |  -.1702134    .056078    -3.04   0.011    -.2936402   -.0467867
         dummy2_16 |  -.1821348   .0556414    -3.27   0.007    -.3046008   -.0596688
         dummy2_17 |  -.1582762   .0555238    -2.85   0.016    -.2804833   -.0360692
         dummy2_18 |  -.1551239   .0575999    -2.69   0.021    -.2819005   -.0283473
         dummy2_19 |  -.1452958   .0550716    -2.64   0.023    -.2665074   -.0240841
         dummy2_20 |  -.1725557   .0553398    -3.12   0.010    -.2943578   -.0507536
         dummy2_21 |  -.1851587   .0612097    -3.02   0.012    -.3198804    -.050437
         dummy2_22 |  -.1674222   .0569931    -2.94   0.014    -.2928631   -.0419812
         dummy2_23 |   .0483814   .0082345     5.88   0.000     .0302575    .0665053
         dummy2_24 |  -.0177668   .0090252    -1.97   0.075    -.0376312    .0020977
         dummy2_25 |  -.0301101   .0077379    -3.89   0.003    -.0471412    -.013079
         dummy2_26 |   .0125609   .0046829     2.68   0.021     .0022539    .0228679
         dummy2_27 |    .033968   .0080384     4.23   0.001     .0162757    .0516603
         dummy2_28 |  -.0196476   .0043058    -4.56   0.001    -.0291246   -.0101706
         dummy2_29 |          0  (omitted)
         dummy2_30 |  -.0473818   .0060097    -7.88   0.000    -.0606092   -.0341545
         dummy2_31 |   .0060498   .0021477     2.82   0.017     .0013227    .0107768
         dummy2_32 |   .0418803   .0075953     5.51   0.000     .0251632    .0585974
         dummy2_33 |  -.0243393   .0043281    -5.62   0.000    -.0338652   -.0148133
         dummy2_34 |   .0291249   .0048816     5.97   0.000     .0183806    .0398692
         dummy2_35 |   -.026274   .0098843    -2.66   0.022    -.0480291    -.004519
         dummy2_36 |  -.0515828   .0027619   -18.68   0.000    -.0576617   -.0455039
         dummy2_37 |  -.0104906   .0055032    -1.91   0.083     -.022603    .0016219
         dummy2_38 |   .0137013   .0116566     1.18   0.265    -.0119547    .0393573
         dummy2_39 |   -.020182   .0102612    -1.97   0.075    -.0427668    .0024029
         dummy2_40 |   -.066976   .0107381    -6.24   0.000    -.0906104   -.0433416
         dummy2_41 |  -.0344711   .0116766    -2.95   0.013    -.0601712    -.008771
         dummy2_42 |  -.0490312   .0118365    -4.14   0.002    -.0750831   -.0229793
         dummy2_43 |  -.0074488   .0118745    -0.63   0.543    -.0335845    .0186869
         dummy2_44 |  -.0050933   .0107471    -0.47   0.645    -.0287475    .0185608
         dummy2_45 |  -.0836253   .0428452    -1.95   0.077     -.177927    .0106764
         dummy2_46 |          0  (omitted)
         dummy2_47 |  -.1318562      .0454    -2.90   0.014    -.2317809   -.0319316
         dummy2_48 |  -.1013643   .0464342    -2.18   0.052    -.2035652    .0008367
         dummy2_49 |          0  (omitted)
         dummy2_50 |  -.1098474    .043742    -2.51   0.029     -.206123   -.0135718
         dummy2_51 |  -.3744975   .0500448    -7.48   0.000    -.4846454   -.2643496
         dummy2_52 |  -.1330294   .0485245    -2.74   0.019    -.2398311   -.0262277
         dummy2_53 |  -.0748719   .0429054    -1.75   0.109    -.1693059    .0195622
         dummy2_54 |  -.1186067   .0433607    -2.74   0.019    -.2140431   -.0231704
         dummy2_55 |  -.1155726   .0426168    -2.71   0.020    -.2093715   -.0217737
         dummy2_56 |   -.080124   .0447822    -1.79   0.101    -.1786889    .0184409
         dummy2_57 |  -.1062179   .0451533    -2.35   0.038    -.2055997   -.0068361
         dummy2_58 |   -.155875   .0465663    -3.35   0.007    -.2583667   -.0533833
         dummy2_59 |  -.0974111   .0437719    -2.23   0.048    -.1937524   -.0010698
         dummy2_60 |  -.0050729   .0440243    -0.12   0.910    -.1019697     .091824
         dummy2_61 |  -.1161197   .0410901    -2.83   0.016    -.2065584    -.025681
         dummy2_62 |  -.1041124   .0426943    -2.44   0.033    -.1980819    -.010143
         dummy2_63 |  -.1247722   .0414532    -3.01   0.012      -.21601   -.0335344
         dummy2_64 |   .0037536   .0408657     0.09   0.928    -.0861911    .0936983
         dummy2_65 |  -.1312294   .0459583    -2.86   0.016     -.232383   -.0300758
         dummy2_66 |  -.1163172   .0421268    -2.76   0.019    -.2090377   -.0235967
         dummy2_67 |  -.2124039   .0152891   -13.89   0.000    -.2460549   -.1787529
         dummy2_68 |  -.3246667   .0282906   -11.48   0.000    -.3869338   -.2623995
         dummy2_69 |  -.2444951   .0143889   -16.99   0.000    -.2761648   -.2128254
         dummy2_70 |  -.2695771   .0207019   -13.02   0.000    -.3151417   -.2240125
         dummy2_71 |  -.2262206   .0159726   -14.16   0.000     -.261376   -.1910651
         dummy2_72 |  -.2463293   .0149987   -16.42   0.000    -.2793411   -.2133175
         dummy2_73 |  -.3027365   .0202943   -14.92   0.000     -.347404   -.2580689
         dummy2_74 |  -.2089191   .0152933   -13.66   0.000    -.2425795   -.1752588
         dummy2_75 |  -.2342679   .0153735   -15.24   0.000    -.2681047   -.2004312
         dummy2_76 |  -.2299939   .0153249   -15.01   0.000    -.2637238   -.1962641
         dummy2_77 |  -.2430891   .0154041   -15.78   0.000    -.2769933    -.209185
         dummy2_78 |  -.2416499    .015502   -15.59   0.000    -.2757695   -.2075303
         dummy2_79 |  -.2239322   .0169139   -13.24   0.000    -.2611595   -.1867049
         dummy2_80 |  -.2324854   .0163591   -14.21   0.000    -.2684916   -.1964792
         dummy2_81 |  -.2610193   .0161086   -16.20   0.000     -.296474   -.2255645
         dummy2_82 |  -.1983722   .0144804   -13.70   0.000    -.2302435    -.166501
         dummy2_83 |  -.2413569   .0154098   -15.66   0.000    -.2752737   -.2074401
         dummy2_84 |  -.2374194   .0142888   -16.62   0.000    -.2688688   -.2059701
         dummy2_85 |  -.2228958   .0152801   -14.59   0.000     -.256527   -.1892646
         dummy2_86 |  -.1856051   .0152988   -12.13   0.000    -.2192774   -.1519328
         dummy2_87 |  -.2467897   .0155967   -15.82   0.000    -.2811179   -.2124616
         dummy2_88 |  -.3103961   .0155008   -20.02   0.000    -.3445131   -.2762791
         dummy2_89 |  -.1588119   .0118208   -13.43   0.000    -.1848293   -.1327944
         dummy2_90 |  -.2821117   .0499997    -5.64   0.000    -.3921603   -.1720631
         dummy2_91 |   -.271085   .0082091   -33.02   0.000    -.2891531    -.253017
         dummy2_92 |  -.1790081   .0104474   -17.13   0.000    -.2020026   -.1560135
         dummy2_93 |  -.1935837     .00812   -23.84   0.000    -.2114557   -.1757118
         dummy2_94 |  -.1937395    .009901   -19.57   0.000    -.2155315   -.1719476
         dummy2_95 |          0  (omitted)
         dummy2_96 |  -.2351121   .0115968   -20.27   0.000    -.2606364   -.2095878
         dummy2_97 |  -.1651656   .0118828   -13.90   0.000    -.1913194   -.1390117
         dummy2_98 |    -.27626   .0110275   -25.05   0.000    -.3005315   -.2519885
         dummy2_99 |   -.331562   .0114592   -28.93   0.000    -.3567835   -.3063405
        dummy2_100 |  -.1520463   .0183438    -8.29   0.000    -.1924207   -.1116719
        dummy2_101 |   -.266388   .0198943   -13.39   0.000    -.3101752   -.2226009
        dummy2_102 |  -.4482047    .014379   -31.17   0.000    -.4798527   -.4165567
        dummy2_103 |  -.1216163   .0089671   -13.56   0.000    -.1413527   -.1018798
        dummy2_104 |  -.2332201   .0078867   -29.57   0.000    -.2505786   -.2158617
        dummy2_105 |  -.1974383   .0118991   -16.59   0.000     -.223628   -.1712486
        dummy2_106 |  -.2339803   .0102979   -22.72   0.000    -.2566458   -.2113148
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |  -.1780606   .0121954   -14.60   0.000    -.2049025   -.1512187
        dummy2_110 |          0  (omitted)
        dummy2_111 |  -.0124204   .0113085    -1.10   0.296    -.0373101    .0124693
        dummy2_112 |  -.0710736   .0145855    -4.87   0.000    -.1031761   -.0389711
        dummy2_113 |  -.0442581   .0120381    -3.68   0.004    -.0707537   -.0177625
        dummy2_114 |  -.0477144   .0106245    -4.49   0.001    -.0710987     -.02433
        dummy2_115 |  -.0111704   .0104421    -1.07   0.308    -.0341532    .0118124
        dummy2_116 |  -.0385409   .0105107    -3.67   0.004    -.0616748    -.015407
        dummy2_117 |  -.0885221    .017298    -5.12   0.000    -.1265947   -.0504495
        dummy2_118 |  -.0311546    .016939    -1.84   0.093    -.0684371    .0061279
        dummy2_119 |  -.0298525   .0106307    -2.81   0.017    -.0532506   -.0064544
        dummy2_120 |  -.0216856   .0110987    -1.95   0.077    -.0461137    .0027425
        dummy2_121 |  -.0308029   .0111401    -2.77   0.018    -.0553222   -.0062836
        dummy2_122 |  -.0410414   .0108083    -3.80   0.003    -.0648303   -.0172526
        dummy2_123 |  -.0591261   .0104492    -5.66   0.000    -.0821248   -.0361275
        dummy2_124 |   -.069045   .0123416    -5.59   0.000    -.0962087   -.0418812
        dummy2_125 |  -.0252924   .0105058    -2.41   0.035    -.0484154   -.0021694
        dummy2_126 |  -.0139128   .0132279    -1.05   0.315    -.0430272    .0152016
        dummy2_127 |  -.0382515   .0109452    -3.49   0.005    -.0623418   -.0141611
        dummy2_128 |  -.0364659   .0126499    -2.88   0.015     -.064308   -.0086237
        dummy2_129 |  -.0274255   .0103441    -2.65   0.023    -.0501926   -.0046583
        dummy2_130 |   .0420373    .010367     4.05   0.002     .0192196    .0648549
        dummy2_131 |   .0001129   .0160784     0.01   0.995    -.0352754    .0355011
        dummy2_132 |  -.0179015   .0111807    -1.60   0.138    -.0425101     .006707
        dummy2_133 |  -.1291895   .0329928    -3.92   0.002    -.2018061    -.056573
        dummy2_134 |  -.2265487    .073316    -3.09   0.010    -.3879162   -.0651813
        dummy2_135 |  -.2033144   .0316823    -6.42   0.000    -.2730468   -.1335821
        dummy2_136 |  -.1651847   .0332577    -4.97   0.000    -.2383845    -.091985
        dummy2_137 |  -.1248003    .031234    -4.00   0.002    -.1935458   -.0560548
        dummy2_138 |  -.1469126   .0306642    -4.79   0.001    -.2144041   -.0794212
        dummy2_139 |  -.1795243   .0443629    -4.05   0.002    -.2771663   -.0818823
        dummy2_140 |  -.1483188   .0363949    -4.08   0.002    -.2284236   -.0682141
        dummy2_141 |  -.0979003   .0307524    -3.18   0.009     -.165586   -.0302147
        dummy2_142 |  -.1092788   .0308513    -3.54   0.005    -.1771821   -.0413754
        dummy2_143 |  -.1576128   .0301729    -5.22   0.000    -.2240228   -.0912027
        dummy2_144 |  -.1482893    .030238    -4.90   0.000    -.2148428   -.0817358
        dummy2_145 |  -.1684015   .0306752    -5.49   0.000    -.2359173   -.1008858
        dummy2_146 |  -.1422798   .0300219    -4.74   0.001    -.2083576    -.076202
        dummy2_147 |  -.1067119   .0312134    -3.42   0.006    -.1754122   -.0380117
        dummy2_148 |  -.1309553   .0335088    -3.91   0.002    -.2047077   -.0572029
        dummy2_149 |  -.2934125   .0293228   -10.01   0.000    -.3579515   -.2288735
        dummy2_150 |  -.1674432   .0321783    -5.20   0.000    -.2382672   -.0966192
        dummy2_151 |  -.2086006   .0282312    -7.39   0.000    -.2707371   -.1464641
        dummy2_152 |  -.1333522    .029939    -4.45   0.001    -.1992476   -.0674569
        dummy2_153 |  -.2642726   .0368199    -7.18   0.000    -.3453128   -.1832325
        dummy2_154 |  -.2856452   .0309433    -9.23   0.000    -.3537508   -.2175395
        dummy2_155 |  -.1146036   .0263254    -4.35   0.001    -.1725455   -.0566617
        dummy2_156 |  -.1068865   .0249807    -4.28   0.001    -.1618686   -.0519045
        dummy2_157 |  -.0946097   .0249331    -3.79   0.003    -.1494871   -.0397323
        dummy2_158 |  -.1762048   .0415966    -4.24   0.001    -.2677582   -.0846513
        dummy2_159 |  -.1348697   .0279407    -4.83   0.001    -.1963667   -.0733727
        dummy2_160 |  -.0944245   .0242853    -3.89   0.003    -.1478761   -.0409728
        dummy2_161 |   .0284447   .0318604     0.89   0.391    -.0416796    .0985689
        dummy2_162 |  -.0758069   .0306196    -2.48   0.031    -.1432002   -.0084135
        dummy2_163 |  -.1228334    .027866    -4.41   0.001    -.1841661   -.0615007
        dummy2_164 |  -.0915335   .0257285    -3.56   0.004    -.1481615   -.0349055
        dummy2_165 |   -.101994   .0257002    -3.97   0.002    -.1585598   -.0454282
        dummy2_166 |  -.0981822   .0275634    -3.56   0.004    -.1588487   -.0375156
        dummy2_167 |  -.2361707   .0608833    -3.88   0.003     -.370174   -.1021673
        dummy2_168 |  -.1391319   .0354553    -3.92   0.002    -.2171684   -.0610954
        dummy2_169 |  -.1015048   .0245551    -4.13   0.002    -.1555503   -.0474594
        dummy2_170 |  -.0570108   .0235969    -2.42   0.034    -.1089472   -.0050743
        dummy2_171 |  -.1047526   .0236932    -4.42   0.001     -.156901   -.0526041
        dummy2_172 |  -.1059614   .0240576    -4.40   0.001    -.1589118   -.0530111
        dummy2_173 |   -.089338   .0237654    -3.76   0.003    -.1416453   -.0370306
        dummy2_174 |  -.0180032   .0233817    -0.77   0.458     -.069466    .0334597
        dummy2_175 |  -.0797949   .0272548    -2.93   0.014    -.1397822   -.0198076
        dummy2_176 |   -.104022   .0241581    -4.31   0.001    -.1571936   -.0508504
        dummy2_177 |  -.1251083   .0442636    -2.83   0.016    -.2225318   -.0276848
        dummy2_178 |   -.239624   .0747191    -3.21   0.008    -.4040796   -.0751684
        dummy2_179 |  -.0980907   .0470001    -2.09   0.061    -.2015371    .0053558
        dummy2_180 |  -.1187082   .0476893    -2.49   0.030    -.2236715   -.0137448
        dummy2_181 |  -.1566654   .0448419    -3.49   0.005    -.2553618    -.057969
        dummy2_182 |  -.1061561    .044442    -2.39   0.036    -.2039723   -.0083399
        dummy2_183 |  -.1552522   .0476616    -3.26   0.008    -.2601548   -.0503496
        dummy2_184 |  -.1389997   .0512287    -2.71   0.020    -.2517534    -.026246
        dummy2_185 |  -.1215582   .0446463    -2.72   0.020     -.219824   -.0232925
        dummy2_186 |  -.1157882   .0452442    -2.56   0.027      -.21537   -.0162065
        dummy2_187 |   -.112507    .044644    -2.52   0.028    -.2107677   -.0142462
        dummy2_188 |  -.1493843   .0461856    -3.23   0.008    -.2510381   -.0477305
        dummy2_189 |   -.151394   .0492373    -3.07   0.011    -.2597645   -.0430235
        dummy2_190 |  -.1743131   .0504463    -3.46   0.005    -.2853446   -.0632817
        dummy2_191 |  -.1366857   .0450129    -3.04   0.011    -.2357583    -.037613
        dummy2_192 |  -.0926178   .0430349    -2.15   0.054    -.1873369    .0021013
        dummy2_193 |  -.1355665   .0439042    -3.09   0.010    -.2321989   -.0389341
        dummy2_194 |  -.1509928   .0429756    -3.51   0.005    -.2455816   -.0564041
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |  -.0659676   .0451738    -1.46   0.172    -.1653944    .0334593
        dummy2_198 |  -.1323312   .0432604    -3.06   0.011    -.2275467   -.0371157
        dummy2_199 |  -.0524034   .0151474    -3.46   0.005    -.0857427   -.0190641
        dummy2_200 |  -.1593289   .0313412    -5.08   0.000    -.2283104   -.0903473
        dummy2_201 |  -.0961194   .0151413    -6.35   0.000    -.1294452   -.0627935
        dummy2_202 |   -.161098   .0290832    -5.54   0.000    -.2251096   -.0970864
        dummy2_203 |  -.0375777   .0152793    -2.46   0.032    -.0712071   -.0039482
        dummy2_204 |  -.0715562   .0155867    -4.59   0.001    -.1058622   -.0372501
        dummy2_205 |  -.1066678   .0182523    -5.84   0.000    -.1468408   -.0664947
        dummy2_206 |  -.0984756   .0151678    -6.49   0.000    -.1318597   -.0650914
        dummy2_207 |  -.0864256   .0154059    -5.61   0.000    -.1203338   -.0525174
        dummy2_208 |  -.0659618   .0153434    -4.30   0.001    -.0997324   -.0321912
        dummy2_209 |  -.1005422   .0151484    -6.64   0.000    -.1338835   -.0672008
        dummy2_210 |  -.0721205   .0150674    -4.79   0.001    -.1052837   -.0389573
        dummy2_211 |   .0121194   .0197137     0.61   0.551    -.0312701    .0555089
        dummy2_212 |  -.0623646   .0154162    -4.05   0.002    -.0962953   -.0284338
        dummy2_213 |    -.02914   .0152719    -1.91   0.083    -.0627533    .0044733
        dummy2_214 |  -.0828104    .015358    -5.39   0.000    -.1166131   -.0490076
        dummy2_215 |   -.073643   .0153098    -4.81   0.001    -.1073398   -.0399463
        dummy2_216 |  -.0543637   .0151696    -3.58   0.004    -.0877517   -.0209757
        dummy2_217 |  -.0755856   .0157377    -4.80   0.001     -.110224   -.0409471
        dummy2_218 |  -.0335164   .0152751    -2.19   0.051    -.0671366    .0001039
        dummy2_219 |  -.0841113   .0154364    -5.45   0.000    -.1180867   -.0501359
        dummy2_220 |  -.0860469   .0158171    -5.44   0.000    -.1208601   -.0512338
        dummy2_221 |  -.1230466   .0516376    -2.38   0.036    -.2367002   -.0093931
        dummy2_222 |  -.1495956   .0536519    -2.79   0.018    -.2676827   -.0315084
        dummy2_223 |  -.1464895   .0500488    -2.93   0.014    -.2566463   -.0363327
        dummy2_224 |  -.1480642   .0524654    -2.82   0.017    -.2635398   -.0325885
        dummy2_225 |  -.1583543   .0497918    -3.18   0.009    -.2679454   -.0487633
        dummy2_226 |   -.139529   .0493544    -2.83   0.016    -.2481574   -.0309007
        dummy2_227 |  -.1477939   .0552385    -2.68   0.022     -.269373   -.0262149
        dummy2_228 |  -.1329578   .0547251    -2.43   0.033    -.2534069   -.0125086
        dummy2_229 |  -.1432762    .050155    -2.86   0.016    -.2536666   -.0328857
        dummy2_230 |  -.1143357   .0498025    -2.30   0.042    -.2239504    -.004721
        dummy2_231 |  -.1226822   .0502666    -2.44   0.033    -.2333183   -.0120461
        dummy2_232 |  -.1320192   .0509395    -2.59   0.025    -.2441364    -.019902
        dummy2_233 |  -.1534047   .0544355    -2.82   0.017    -.2732164    -.033593
        dummy2_234 |  -.1524318   .0533046    -2.86   0.016    -.2697545   -.0351091
        dummy2_235 |  -.1544062   .0501772    -3.08   0.011    -.2648454    -.043967
        dummy2_236 |   -.119736   .0508742    -2.35   0.038    -.2317093   -.0077627
        dummy2_237 |  -.1267654   .0493444    -2.57   0.026    -.2353717    -.018159
        dummy2_238 |   -.132377   .0499067    -2.65   0.022    -.2422209   -.0225331
        dummy2_239 |   -.113525   .0488681    -2.32   0.040     -.221083    -.005967
        dummy2_240 |  -.0793378   .0495184    -1.60   0.137    -.1883271    .0296516
        dummy2_241 |  -.1081582   .0549293    -1.97   0.075    -.2290567    .0127404
        dummy2_242 |  -.1345126   .0493061    -2.73   0.020    -.2430346   -.0259906
        dummy2_243 |  -.2783606    .025098   -11.09   0.000     -.333601   -.2231202
        dummy2_244 |  -.3287301   .0238177   -13.80   0.000    -.3811526   -.2763076
        dummy2_245 |  -.2852849   .0240109   -11.88   0.000    -.3381326   -.2324372
        dummy2_246 |  -.2767169   .0265135   -10.44   0.000    -.3350728   -.2183609
        dummy2_247 |  -.3004606   .0252505   -11.90   0.000    -.3560365   -.2448848
        dummy2_248 |  -.2738107   .0247506   -11.06   0.000    -.3282864    -.219335
        dummy2_249 |  -.2669356   .0239925   -11.13   0.000    -.3197428   -.2141283
        dummy2_250 |   -.285502   .0230823   -12.37   0.000    -.3363059   -.2346981
        dummy2_251 |  -.2735232   .0248889   -10.99   0.000    -.3283034   -.2187431
        dummy2_252 |  -.2837342   .0254164   -11.16   0.000    -.3396754   -.2277931
        dummy2_253 |  -.2742093   .0246973   -11.10   0.000    -.3285676   -.2198509
        dummy2_254 |  -.2782469   .0250341   -11.11   0.000    -.3333465   -.2231472
        dummy2_255 |  -.1839392   .0259123    -7.10   0.000    -.2409718   -.1269067
        dummy2_256 |  -.2613695   .0259606   -10.07   0.000    -.3185085   -.2042306
        dummy2_257 |  -.2774393   .0260275   -10.66   0.000    -.3347255   -.2201532
        dummy2_258 |  -.2832898   .0230618   -12.28   0.000    -.3340484   -.2325312
        dummy2_259 |  -.3232056   .0250564   -12.90   0.000    -.3783544   -.2680569
        dummy2_260 |  -.2930317   .0232116   -12.62   0.000      -.34412   -.2419434
        dummy2_261 |  -.2905125   .0252473   -11.51   0.000    -.3460816   -.2349435
        dummy2_262 |  -.2816708   .0241091   -11.68   0.000    -.3347346   -.2286071
        dummy2_263 |  -.2800912   .0239244   -11.71   0.000    -.3327483    -.227434
        dummy2_264 |  -.3145032   .0247626   -12.70   0.000    -.3690053   -.2600011
             _cons |   .2591852   .1023375     2.53   0.028     .0339419    .4844285
------------------------------------------------------------------------------------

. eststo table6_enfc_int

. * correct nobs
. 
. test l.CPI_lec=l.CPI_mec

 ( 1)  L.CPI_lec - L.CPI_mec = 0

       F(  1,    11) =    1.33
            Prob > F =    0.2729

. test l.CPI_lec=l.CPI_hec 

 ( 1)  L.CPI_lec - L.CPI_hec = 0

       F(  1,    11) =    1.86
            Prob > F =    0.1995

. test l.CPI_mec=l.CPI_hec 

 ( 1)  L.CPI_mec - L.CPI_hec = 0

       F(  1,    11) =    0.21
            Prob > F =    0.6530

. 
. 
. ****************************************************************
. *******************      RULE OF LAW      **********************
. ****************************************************************
. 
. label var ruleoflaw "Rule of law"

. 
. egen l_rule2=pctile(rule), p(34) 

. egen h_rule2=pctile(rule), p(67) 

. 
. gen low_ruleoflaw=0

. replace low_ruleoflaw=1 if ruleoflaw<l_rule
(968 real changes made)

. gen mid_ruleoflaw=0

. replace mid_ruleoflaw=1 if ruleoflaw>=l_rule &  ruleoflaw<h_rule
(968 real changes made)

. gen high_ruleoflaw=0

. replace high_ruleoflaw=1 if ruleoflaw>=h_rule
(979 real changes made)

. 
. 
. gen CPI_lrl=compindex*high_rule
(363 missing values generated)

. gen CPI_mrl=compindex*mid_rule
(363 missing values generated)

. gen CPI_hrl=compindex*low_rule
(363 missing values generated)

. 
. reg tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.pmr l.tradelib  l.CPI_lrl l.CPI_mrl l.CPI_hrl rul
> eoflaw y_* dummy* if tfpcorrectedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, cl(
> country)

Linear regression                                      Number of obs =    1847
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2703
                                                       Root MSE      =  .06345

                                     (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------------
                   |               Robust
tfpcorrectedover~s |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0651325   .0231704     2.81   0.017     .0141349    .1161301
                   |
     tecnogapklems |
               L1. |   .0076886   .0041411     1.86   0.090    -.0014258    .0168031
                   |
         ind_trend |   .0436724   .0054873     7.96   0.000      .031595    .0557498
                   |
               pmr |
               L1. |  -.0345797   .0153063    -2.26   0.045    -.0682686   -.0008907
                   |
          tradelib |
               L1. |   .0140595   .0041289     3.41   0.006     .0049719    .0231471
                   |
           CPI_lrl |
               L1. |   .0836648   .0310271     2.70   0.021     .0153746    .1519551
                   |
           CPI_mrl |
               L1. |   .0945058   .0196721     4.80   0.001     .0512078    .1378038
                   |
           CPI_hrl |
               L1. |   .1173805   .0531834     2.21   0.049     .0003247    .2344363
                   |
         ruleoflaw |   .0471321   .0391142     1.20   0.253    -.0389578     .133222
               y_1 |          0  (omitted)
               y_2 |          0  (omitted)
               y_3 |   .0056819     .01238     0.46   0.655    -.0215663      .03293
               y_4 |  -.0178119   .0140788    -1.27   0.232    -.0487992    .0131754
               y_5 |   .0084408   .0114535     0.74   0.477    -.0167682    .0336497
               y_6 |   .0102244    .012183     0.84   0.419    -.0165903    .0370391
               y_7 |  -.0193325   .0115455    -1.67   0.122     -.044744    .0060789
               y_8 |  -.0150367   .0155402    -0.97   0.354    -.0492403     .019167
               y_9 |  -.0125697   .0134576    -0.93   0.370    -.0421897    .0170502
              y_10 |  -.0039707    .014761    -0.27   0.793    -.0364596    .0285181
              y_11 |  -.0118387   .0164139    -0.72   0.486    -.0479656    .0242881
          dummy2_1 |   .1046717   .0296829     3.53   0.005     .0393401    .1700034
          dummy2_2 |   .0466996   .0291824     1.60   0.138    -.0175305    .1109297
          dummy2_3 |   .1182108    .027711     4.27   0.001     .0572194    .1792022
          dummy2_4 |   .0906038   .0271838     3.33   0.007     .0307727    .1504349
          dummy2_5 |   .1119994   .0286879     3.90   0.002     .0488577    .1751412
          dummy2_6 |   .1675883    .028185     5.95   0.000     .1055536     .229623
          dummy2_7 |    .092662   .0258499     3.58   0.004     .0357668    .1495572
          dummy2_8 |   .1130606   .0265356     4.26   0.001     .0546562    .1714651
          dummy2_9 |   .0894538   .0271837     3.29   0.007     .0296229    .1492847
         dummy2_10 |    .110973   .0279296     3.97   0.002     .0495003    .1724457
         dummy2_11 |   .1269423   .0273031     4.65   0.001     .0668487     .187036
         dummy2_12 |   .0929231   .0261189     3.56   0.004     .0354357    .1504105
         dummy2_13 |   .0820718   .0336063     2.44   0.033     .0081048    .1560387
         dummy2_14 |   .0810045   .0278564     2.91   0.014     .0196929    .1423161
         dummy2_15 |    .115168   .0275772     4.18   0.002     .0544709    .1758651
         dummy2_16 |   .0974133    .029405     3.31   0.007     .0326934    .1621332
         dummy2_17 |   .1216507   .0288212     4.22   0.001     .0582156    .1850857
         dummy2_18 |   .1185026   .0285256     4.15   0.002     .0557181    .1812871
         dummy2_19 |   .1360703   .0289017     4.71   0.001     .0724581    .1996825
         dummy2_20 |   .1078618    .029844     3.61   0.004     .0421755    .1735481
         dummy2_21 |   .0782257   .0288458     2.71   0.020     .0147366    .1417149
         dummy2_22 |   .1080632   .0284215     3.80   0.003     .0455079    .1706184
         dummy2_23 |   .2400941   .0279537     8.59   0.000     .1785685    .3016198
         dummy2_24 |   .1618205   .0261135     6.20   0.000     .1043451    .2192959
         dummy2_25 |   .1632896   .0283334     5.76   0.000     .1009282     .225651
         dummy2_26 |   .1992202   .0254646     7.82   0.000      .143173    .2552674
         dummy2_27 |   .2235922   .0281616     7.94   0.000     .1616089    .2855755
         dummy2_28 |   .1754642    .026623     6.59   0.000     .1168674    .2340609
         dummy2_29 |   .1922839   .0273342     7.03   0.000     .1321217    .2524461
         dummy2_30 |   .1428766   .0252489     5.66   0.000      .087304    .1984491
         dummy2_31 |   .2011014    .025504     7.89   0.000     .1449676    .2572353
         dummy2_32 |   .2314952   .0278179     8.32   0.000     .1702684    .2927219
         dummy2_33 |   .1669494   .0267523     6.24   0.000      .108068    .2258307
         dummy2_34 |   .2172606   .0265625     8.18   0.000      .158797    .2757241
         dummy2_35 |   .1659525   .0240641     6.90   0.000     .1129878    .2189172
         dummy2_36 |   .1409003     .02488     5.66   0.000     .0861397    .1956609
         dummy2_37 |   .1785215   .0267952     6.66   0.000     .1195457    .2374973
         dummy2_38 |   .1925102   .0285019     6.75   0.000      .129778    .2552424
         dummy2_39 |   .1698581   .0292763     5.80   0.000     .1054214    .2342947
         dummy2_40 |   .1233516   .0298107     4.14   0.002     .0577386    .1889646
         dummy2_41 |   .1639654   .0300982     5.45   0.000     .0977198     .230211
         dummy2_42 |   .1488333   .0299876     4.96   0.000      .082831    .2148356
         dummy2_43 |   .1714797   .0293208     5.85   0.000     .1069451    .2360142
         dummy2_44 |   .1870234   .0297939     6.28   0.000     .1214475    .2525993
         dummy2_45 |   .1998049    .020761     9.62   0.000     .1541104    .2454995
         dummy2_46 |          0  (omitted)
         dummy2_47 |   .1490927   .0184731     8.07   0.000     .1084337    .1897517
         dummy2_48 |   .1843616   .0183502    10.05   0.000     .1439731      .22475
         dummy2_49 |          0  (omitted)
         dummy2_50 |   .1730662   .0232946     7.43   0.000     .1217951    .2243372
         dummy2_51 |  -.0988186   .0218479    -4.52   0.001    -.1469055   -.0507317
         dummy2_52 |   .1461049   .0153781     9.50   0.000      .112258    .1799519
         dummy2_53 |   .2134962   .0191225    11.16   0.000     .1714079    .2555845
         dummy2_54 |   .1666251   .0195176     8.54   0.000     .1236671    .2095831
         dummy2_55 |   .1728865   .0194467     8.89   0.000     .1300845    .2156885
         dummy2_56 |   .2074461   .0169603    12.23   0.000     .1701166    .2447756
         dummy2_57 |   .1801319   .0195936     9.19   0.000     .1370068    .2232571
         dummy2_58 |    .127441    .018825     6.77   0.000     .0860075    .1688746
         dummy2_59 |   .1898714   .0181039    10.49   0.000     .1500249    .2297179
         dummy2_60 |   .2743908   .0208827    13.14   0.000     .2284283    .3203533
         dummy2_61 |   .1721557   .0220342     7.81   0.000     .1236588    .2206526
         dummy2_62 |   .1809215   .0216197     8.37   0.000     .1333368    .2285061
         dummy2_63 |   .1631697   .0219854     7.42   0.000     .1147802    .2115592
         dummy2_64 |   .2917185   .0221164    13.19   0.000     .2430408    .3403963
         dummy2_65 |   .1443875   .0205018     7.04   0.000     .0992634    .1895117
         dummy2_66 |   .1688224   .0260231     6.49   0.000     .1115459    .2260989
         dummy2_67 |   .1593136    .025375     6.28   0.000     .1034636    .2151635
         dummy2_68 |   .0390441   .0218059     1.79   0.101    -.0089504    .0870386
         dummy2_69 |    .124411   .0244765     5.08   0.000     .0705385    .1782835
         dummy2_70 |    .110753   .0214286     5.17   0.000     .0635889     .157917
         dummy2_71 |   .1538283   .0258587     5.95   0.000     .0969136    .2107429
         dummy2_72 |   .1290473   .0256555     5.03   0.000     .0725799    .1855147
         dummy2_73 |   .0595844   .0223088     2.67   0.022     .0104829    .1086858
         dummy2_74 |   .1528155   .0234747     6.51   0.000     .1011481    .2044829
         dummy2_75 |   .1434387   .0254372     5.64   0.000     .0874517    .1994257
         dummy2_76 |   .1457243   .0260631     5.59   0.000     .0883598    .2030887
         dummy2_77 |    .135021   .0253751     5.32   0.000     .0791709    .1908712
         dummy2_78 |   .1365138   .0256771     5.32   0.000      .079999    .1930287
         dummy2_79 |   .1531028   .0248042     6.17   0.000      .098509    .2076965
         dummy2_80 |   .1470375   .0249729     5.89   0.000     .0920726    .2020024
         dummy2_81 |   .1184532    .024999     4.74   0.001     .0634308    .1734755
         dummy2_82 |   .1655371   .0260869     6.35   0.000     .1081202     .222954
         dummy2_83 |   .1349663   .0269111     5.02   0.000     .0757355    .1941972
         dummy2_84 |   .1326002   .0261037     5.08   0.000     .0751464    .1900539
         dummy2_85 |   .1534405    .026751     5.74   0.000     .0945619     .212319
         dummy2_86 |   .1907471   .0267721     7.12   0.000     .1318221    .2496722
         dummy2_87 |    .107669   .0256541     4.20   0.001     .0512047    .1641334
         dummy2_88 |   .0674281   .0267705     2.52   0.029     .0085065    .1263497
         dummy2_89 |   .2424749   .0300617     8.07   0.000     .1763095    .3086403
         dummy2_90 |    .107935   .0430757     2.51   0.029     .0131261     .202744
         dummy2_91 |   .1232254   .0291674     4.22   0.001     .0590283    .1874224
         dummy2_92 |    .210756   .0256499     8.22   0.000      .154301    .2672109
         dummy2_93 |   .2013108   .0276103     7.29   0.000     .1405408    .2620807
         dummy2_94 |   .2055137   .0272743     7.54   0.000     .1454833    .2655441
         dummy2_95 |   .3879595   .0267382    14.51   0.000      .329109    .4468099
         dummy2_96 |    .158505   .0253503     6.25   0.000     .1027094    .2143007
         dummy2_97 |   .2323471   .0257935     9.01   0.000      .175576    .2891181
         dummy2_98 |   .1247844   .0284308     4.39   0.001     .0622085    .1873602
         dummy2_99 |    .067337    .025953     2.59   0.025     .0102148    .1244592
        dummy2_100 |   .2445242   .0259436     9.43   0.000     .1874228    .3016256
        dummy2_101 |   .1298904   .0256828     5.06   0.000     .0733628    .1864179
        dummy2_102 |  -.0437144   .0257677    -1.70   0.118    -.1004286    .0129999
        dummy2_103 |   .2705827    .025994    10.41   0.000     .2133703    .3277951
        dummy2_104 |   .1753792   .0292546     5.99   0.000     .1109903     .239768
        dummy2_105 |    .203251   .0308797     6.58   0.000     .1352853    .2712168
        dummy2_106 |   .1615734   .0311924     5.18   0.000     .0929193    .2302275
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .2308944   .0300596     7.68   0.000     .1647336    .2970552
        dummy2_110 |          0  (omitted)
        dummy2_111 |   .1968066   .0262107     7.51   0.000     .1391171     .254496
        dummy2_112 |   .1410038    .023726     5.94   0.000     .0887832    .1932243
        dummy2_113 |    .164509   .0261328     6.30   0.000      .106991    .2220269
        dummy2_114 |   .1633458    .025964     6.29   0.000     .1061995    .2204921
        dummy2_115 |   .2010776   .0263931     7.62   0.000     .1429868    .2591683
        dummy2_116 |   .1739701    .026617     6.54   0.000     .1153865    .2325537
        dummy2_117 |   .1120286   .0282908     3.96   0.002      .049761    .1742962
        dummy2_118 |   .1693257   .0247736     6.83   0.000     .1147994     .223852
        dummy2_119 |   .1823559   .0266151     6.85   0.000     .1237765    .2409354
        dummy2_120 |   .1890237   .0267899     7.06   0.000     .1300595    .2479879
        dummy2_121 |   .1799918   .0263569     6.83   0.000     .1219806    .2380031
        dummy2_122 |   .1703501   .0262807     6.48   0.000     .1125068    .2281935
        dummy2_123 |   .1529482   .0239216     6.39   0.000      .100297    .2055993
        dummy2_124 |   .1442242   .0233013     6.19   0.000     .0929384      .19551
        dummy2_125 |    .186694   .0265996     7.02   0.000     .1281486    .2452394
        dummy2_126 |   .1923702   .0272893     7.05   0.000     .1323068    .2524335
        dummy2_127 |   .1746538   .0276337     6.32   0.000     .1138323    .2354752
        dummy2_128 |   .1727311   .0278936     6.19   0.000     .1113378    .2341244
        dummy2_129 |   .1888358   .0280497     6.73   0.000     .1270987    .2505728
        dummy2_130 |    .258035   .0280022     9.21   0.000     .1964026    .3196675
        dummy2_131 |    .200743   .0277721     7.23   0.000      .139617     .261869
        dummy2_132 |   .1957352   .0280397     6.98   0.000     .1340203    .2574501
        dummy2_133 |   .1148206   .0163242     7.03   0.000     .0788913    .1507498
        dummy2_134 |   .0154487    .041601     0.37   0.717    -.0761144    .1070118
        dummy2_135 |   .0521025   .0117193     4.45   0.001     .0263085    .0778965
        dummy2_136 |    .091363   .0166841     5.48   0.000     .0546415    .1280844
        dummy2_137 |   .1224813   .0183212     6.69   0.000     .0821567     .162806
        dummy2_138 |   .1038436   .0160384     6.47   0.000     .0685433    .1391439
        dummy2_139 |          0  (omitted)
        dummy2_140 |   .0888852   .0149805     5.93   0.000     .0559135     .121857
        dummy2_141 |   .1488782   .0184552     8.07   0.000     .1082585    .1894979
        dummy2_142 |   .1365574    .019036     7.17   0.000     .0946594    .1784553
        dummy2_143 |   .0991524   .0135124     7.34   0.000     .0694117     .128893
        dummy2_144 |    .105647   .0141667     7.46   0.000     .0744662    .1368277
        dummy2_145 |    .095156   .0098544     9.66   0.000     .0734665    .1168454
        dummy2_146 |   .1136595   .0146942     7.74   0.000     .0813178    .1460011
        dummy2_147 |   .1399717    .018264     7.66   0.000     .0997728    .1801706
        dummy2_148 |   .1143774   .0143829     7.95   0.000     .0827208    .1460339
        dummy2_149 |  -.0066989   .0022127    -3.03   0.012     -.011569   -.0018288
        dummy2_150 |   .0854643   .0122418     6.98   0.000     .0585203    .1124084
        dummy2_151 |   .0638382   .0092597     6.89   0.000     .0434577    .0842188
        dummy2_152 |   .1214939   .0149904     8.10   0.000     .0885002    .1544876
        dummy2_153 |  -.0063498   .0068799    -0.92   0.376    -.0214925    .0087928
        dummy2_154 |          0  (omitted)
        dummy2_155 |   .1061222   .0272949     3.89   0.003     .0460466    .1661979
        dummy2_156 |   .1422603   .0292154     4.87   0.000     .0779577     .206563
        dummy2_157 |   .1329621   .0260678     5.10   0.000     .0755874    .1903369
        dummy2_158 |   .0566416   .0275836     2.05   0.065    -.0040695    .1173528
        dummy2_159 |   .0890953   .0251442     3.54   0.005     .0337533    .1444372
        dummy2_160 |   .1325682   .0270255     4.91   0.000     .0730856    .1920509
        dummy2_161 |   .2329963    .023357     9.98   0.000     .1815878    .2844048
        dummy2_162 |   .1418116    .024932     5.69   0.000     .0869368    .1966865
        dummy2_163 |   .1047626   .0245801     4.26   0.001     .0506621     .158863
        dummy2_164 |   .1314678    .026885     4.89   0.000     .0722943    .1906413
        dummy2_165 |   .1255432   .0259229     4.84   0.001     .0684873    .1825991
        dummy2_166 |   .1280268   .0250807     5.10   0.000     .0728245    .1832291
        dummy2_167 |  -.0108446   .0410266    -0.26   0.796    -.1011435    .0794543
        dummy2_168 |   .0909596   .0251891     3.61   0.004     .0355188    .1464005
        dummy2_169 |   .1257184   .0270495     4.65   0.001     .0661829    .1852538
        dummy2_170 |   .1684124   .0287303     5.86   0.000     .1051774    .2316474
        dummy2_171 |    .120345   .0283838     4.24   0.001     .0578725    .1828174
        dummy2_172 |    .118173   .0280659     4.21   0.001     .0564004    .1799457
        dummy2_173 |   .1354333   .0284365     4.76   0.001      .072845    .1980215
        dummy2_174 |   .2077664    .029263     7.10   0.000      .143359    .2721739
        dummy2_175 |   .1344224   .0279105     4.82   0.001     .0729918    .1958529
        dummy2_176 |   .1196132   .0281604     4.25   0.001     .0576326    .1815937
        dummy2_177 |   .1621358   .0197542     8.21   0.000      .118657    .2056146
        dummy2_178 |   .0413419   .0286108     1.44   0.176    -.0216301    .1043138
        dummy2_179 |   .1856301   .0173864    10.68   0.000     .1473629    .2238973
        dummy2_180 |   .1655713   .0162136    10.21   0.000     .1298853    .2012573
        dummy2_181 |   .1323983   .0182328     7.26   0.000     .0922682    .1725284
        dummy2_182 |    .183032    .018893     9.69   0.000     .1414489    .2246152
        dummy2_183 |   .1315789   .0156153     8.43   0.000     .0972098     .165948
        dummy2_184 |   .1394395   .0147071     9.48   0.000     .1070695    .1718096
        dummy2_185 |   .1696988   .0177765     9.55   0.000     .1305729    .2088247
        dummy2_186 |   .1695583   .0192241     8.82   0.000     .1272463    .2118703
        dummy2_187 |   .1771486    .018322     9.67   0.000     .1368221    .2174751
        dummy2_188 |   .1440289   .0154147     9.34   0.000     .1101014    .1779564
        dummy2_189 |   .1421514   .0139034    10.22   0.000     .1115503    .1727525
        dummy2_190 |   .1133355   .0135007     8.39   0.000     .0836207    .1430503
        dummy2_191 |   .1509672   .0184689     8.17   0.000     .1103174     .191617
        dummy2_192 |   .1972258   .0206699     9.54   0.000     .1517316      .24272
        dummy2_193 |   .1522052   .0203174     7.49   0.000     .1074869    .1969236
        dummy2_194 |   .1408075   .0208095     6.77   0.000     .0950061    .1866089
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |   .2189139   .0199159    10.99   0.000     .1750792    .2627485
        dummy2_198 |   .1581883   .0206204     7.67   0.000     .1128031    .2035735
        dummy2_199 |   .1254357   .0314406     3.99   0.002     .0562354     .194636
        dummy2_200 |   .0183415   .0320507     0.57   0.579    -.0522017    .0888846
        dummy2_201 |   .0900885   .0300651     3.00   0.012     .0239156    .1562614
        dummy2_202 |   .0288767   .0311138     0.93   0.373    -.0396043    .0973577
        dummy2_203 |   .1462712   .0311932     4.69   0.001     .0776153    .2149271
        dummy2_204 |   .1141551   .0313259     3.64   0.004     .0452073     .183103
        dummy2_205 |   .0684995   .0270662     2.53   0.028     .0089273    .1280718
        dummy2_206 |   .0882134   .0294953     2.99   0.012     .0232947     .153132
        dummy2_207 |    .100344   .0293591     3.42   0.006      .035725    .1649629
        dummy2_208 |   .1200049   .0305137     3.93   0.002     .0528447    .1871651
        dummy2_209 |    .085464    .030141     2.84   0.016     .0191242    .1518039
        dummy2_210 |   .1126581   .0298339     3.78   0.003     .0469942     .178322
        dummy2_211 |   .1985682    .029183     6.80   0.000     .1343369    .2627995
        dummy2_212 |   .1198544   .0299412     4.00   0.002     .0539542    .1857545
        dummy2_213 |   .1481691   .0300116     4.94   0.000      .082114    .2142242
        dummy2_214 |   .0990367   .0316283     3.13   0.010     .0294232    .1686502
        dummy2_215 |   .1068969   .0317001     3.37   0.006     .0371255    .1766684
        dummy2_216 |   .1241172   .0313637     3.96   0.002      .055086    .1931483
        dummy2_217 |   .1093152    .031648     3.45   0.005     .0396583     .178972
        dummy2_218 |   .1468372   .0315775     4.65   0.001     .0773356    .2163388
        dummy2_219 |   .0985532   .0313631     3.14   0.009     .0295234    .1675829
        dummy2_220 |   .0996889   .0315209     3.16   0.009     .0303119    .1690659
        dummy2_221 |   .1195354   .0290491     4.11   0.002     .0555987    .1834721
        dummy2_222 |   .0827371   .0284182     2.91   0.014      .020189    .1452852
        dummy2_223 |   .1020111    .027865     3.66   0.004     .0406806    .1633416
        dummy2_224 |   .1037052   .0268139     3.87   0.003     .0446882    .1627223
        dummy2_225 |   .0943906   .0277608     3.40   0.006     .0332895    .1554917
        dummy2_226 |   .1106075   .0286523     3.86   0.003     .0475442    .1736708
        dummy2_227 |   .0831471   .0263331     3.16   0.009     .0251884    .1411058
        dummy2_228 |    .101988   .0271736     3.75   0.003     .0421793    .1617966
        dummy2_229 |   .1049535   .0280735     3.74   0.003     .0431642    .1667429
        dummy2_230 |   .1341801   .0290104     4.63   0.001     .0703287    .1980315
        dummy2_231 |   .1258044   .0277898     4.53   0.001     .0646395    .1869693
        dummy2_232 |   .1167603   .0272763     4.28   0.001     .0567255     .176795
        dummy2_233 |   .0945814   .0279874     3.38   0.006     .0329817    .1561812
        dummy2_234 |    .096627   .0270262     3.58   0.004     .0371428    .1561112
        dummy2_235 |   .0968822    .028039     3.46   0.005     .0351688    .1585957
        dummy2_236 |   .1214864   .0293534     4.14   0.002     .0568799    .1860929
        dummy2_237 |   .1211673   .0294876     4.11   0.002     .0562656    .1860689
        dummy2_238 |   .1126148   .0288761     3.90   0.002      .049059    .1761707
        dummy2_239 |   .1365815   .0292833     4.66   0.001     .0721294    .2010336
        dummy2_240 |   .1676183   .0292366     5.73   0.000      .103269    .2319677
        dummy2_241 |   .1179663   .0293273     4.02   0.002     .0534172    .1825153
        dummy2_242 |   .1132973   .0290456     3.90   0.002     .0493684    .1772261
        dummy2_243 |   .1303004   .0259013     5.03   0.000      .073292    .1873089
        dummy2_244 |   .0576573   .0239266     2.41   0.035     .0049953    .1103193
        dummy2_245 |   .1220509   .0245945     4.96   0.000     .0679189     .176183
        dummy2_246 |   .1368752   .0229638     5.96   0.000     .0863323    .1874181
        dummy2_247 |   .1119769   .0248245     4.51   0.001     .0573384    .1666153
        dummy2_248 |   .1366006   .0251351     5.43   0.000     .0812786    .1919227
        dummy2_249 |    .184263   .0246871     7.46   0.000      .129927    .2385989
        dummy2_250 |   .1047351   .0245071     4.27   0.001     .0507953    .1586749
        dummy2_251 |   .1377859   .0247768     5.56   0.000     .0832524    .1923193
        dummy2_252 |   .1285003   .0252972     5.08   0.000     .0728216     .184179
        dummy2_253 |   .1364532   .0245117     5.57   0.000     .0825033     .190403
        dummy2_254 |   .1336178   .0244177     5.47   0.000     .0798747    .1873609
        dummy2_255 |   .2247357   .0248477     9.04   0.000     .1700463    .2794251
        dummy2_256 |   .1517338   .0239175     6.34   0.000     .0990917    .2043759
        dummy2_257 |   .1370307   .0239886     5.71   0.000     .0842322    .1898292
        dummy2_258 |   .1110696   .0252871     4.39   0.001     .0554131     .166726
        dummy2_259 |   .0881824   .0255144     3.46   0.005     .0320255    .1443393
        dummy2_260 |    .109726   .0247552     4.43   0.001     .0552401    .1642118
        dummy2_261 |    .122562   .0253719     4.83   0.001     .0667188    .1784052
        dummy2_262 |   .1256394   .0251459     5.00   0.000     .0702936    .1809852
        dummy2_263 |   .0992423   .0257261     3.86   0.003     .0426195    .1558652
        dummy2_264 |   .0970187    .025111     3.86   0.003     .0417498    .1522877
             _cons |  -.1989896   .0757687    -2.63   0.024    -.3657554   -.0322239
------------------------------------------------------------------------------------

. eststo table6_ROL_int

. 
. test l.CPI_lrl=l.CPI_mrl 

 ( 1)  L.CPI_lrl - L.CPI_mrl = 0

       F(  1,    11) =    0.51
            Prob > F =    0.4911

. test l.CPI_lrl=l.CPI_hrl 

 ( 1)  L.CPI_lrl - L.CPI_hrl = 0

       F(  1,    11) =    0.57
            Prob > F =    0.4651

. test l.CPI_mrl=l.CPI_hrl 

 ( 1)  L.CPI_mrl - L.CPI_hrl = 0

       F(  1,    11) =    0.31
            Prob > F =    0.5871

. 
. 
. ****************************************************************
. *******************      LEGAL SYSTEM     **********************
. ****************************************************************
. 
. gen legal_sys=_2
(11 missing values generated)

. label var legal_sys "Legal system"

. 
. gen indep_judic=_2a
(11 missing values generated)

. label var indep_judic "Judicail Independence"

. 
. 
. egen l_legal=pctile(legal_sys), p(34) 

. egen h_legal=pctile(legal_sys), p(67) 

. 
. gen low_legalsys=0

. replace low_legalsys=1 if legal_sys<l_legal
(946 real changes made)

. gen mid_legalsys=0

. replace mid_legalsys=1 if legal_sys>=l_legal &  legal_sys<h_legal
(968 real changes made)

. gen high_legalsys=0

. replace high_legalsys=1 if legal_sys>=h_legal
(1001 real changes made)

. 
. gen CPI_lls=compindex*low_legal
(363 missing values generated)

. gen CPI_mls=compindex*mid_legal
(363 missing values generated)

. gen CPI_hls=compindex*high_legal
(363 missing values generated)

. 
. reg tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.pmr l.tradelib  l.CPI_lls l.CPI_mls l.CPI_hls leg
> al_sys y_* dummy* if tfpcorrectedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, cl(
> country)

Linear regression                                      Number of obs =    1847
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2733
                                                       Root MSE      =  .06332

                                     (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------------
                   |               Robust
tfpcorrectedover~s |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0652829   .0232025     2.81   0.017     .0142146    .1163513
                   |
     tecnogapklems |
               L1. |   .0081603   .0040041     2.04   0.066    -.0006527    .0169733
                   |
         ind_trend |   .0398699   .0066069     6.03   0.000     .0253281    .0544116
                   |
               pmr |
               L1. |  -.0267559   .0186427    -1.44   0.179    -.0677883    .0142765
                   |
          tradelib |
               L1. |   .0144055   .0043789     3.29   0.007     .0047675    .0240434
                   |
           CPI_lls |
               L1. |   .0552447   .0406224     1.36   0.201    -.0341647    .1446541
                   |
           CPI_mls |
               L1. |   .0721586    .025481     2.83   0.016     .0160752     .128242
                   |
           CPI_hls |
               L1. |   .0702742   .0195073     3.60   0.004      .027339    .1132094
                   |
         legal_sys |   .0136525   .0069121     1.98   0.074     -.001561     .028866
               y_1 |          0  (omitted)
               y_2 |    .023622   .0139977     1.69   0.120    -.0071868    .0544307
               y_3 |   .0289078   .0072516     3.99   0.002     .0129471    .0448685
               y_4 |          0  (omitted)
               y_5 |   .0255833   .0132874     1.93   0.080    -.0036621    .0548287
               y_6 |    .028579   .0063169     4.52   0.001     .0146755    .0424824
               y_7 |   .0053501   .0098289     0.54   0.597    -.0162831    .0269833
               y_8 |   .0123276   .0081904     1.51   0.160    -.0056994    .0303546
               y_9 |   .0170319   .0102672     1.66   0.125     -.005566    .0396298
              y_10 |    .029616   .0072194     4.10   0.002     .0137262    .0455057
              y_11 |    .016528   .0072976     2.26   0.045     .0004661    .0325899
          dummy2_1 |   .0925031   .0333269     2.78   0.018     .0191511    .1658551
          dummy2_2 |   .0341983   .0330141     1.04   0.322    -.0384652    .1068618
          dummy2_3 |   .1061285   .0313185     3.39   0.006      .037197    .1750601
          dummy2_4 |    .077947   .0310582     2.51   0.029     .0095884    .1463056
          dummy2_5 |   .1000434   .0322301     3.10   0.010     .0291054    .1709813
          dummy2_6 |   .1553603   .0318898     4.87   0.000     .0851714    .2255492
          dummy2_7 |   .0796571   .0299698     2.66   0.022      .013694    .1456203
          dummy2_8 |   .0999425   .0306708     3.26   0.008     .0324366    .1674485
          dummy2_9 |   .0770384   .0309662     2.49   0.030     .0088822    .1451947
         dummy2_10 |   .0986892    .031624     3.12   0.010     .0290852    .1682932
         dummy2_11 |   .1146037   .0310473     3.69   0.004      .046269    .1829383
         dummy2_12 |   .0800146   .0301424     2.65   0.022     .0136717    .1463575
         dummy2_13 |   .0670576   .0362279     1.85   0.091    -.0126794    .1467946
         dummy2_14 |   .0691789   .0325027     2.13   0.057    -.0023592     .140717
         dummy2_15 |   .1028996   .0312592     3.29   0.007     .0340985    .1717006
         dummy2_16 |   .0853521   .0330227     2.58   0.025     .0126696    .1580347
         dummy2_17 |   .1096126    .032433     3.38   0.006     .0382281    .1809971
         dummy2_18 |   .1062184   .0322781     3.29   0.007     .0351748    .1772619
         dummy2_19 |   .1240877   .0324783     3.82   0.003     .0526035    .1955718
         dummy2_20 |   .0958402   .0334339     2.87   0.015     .0222526    .1694278
         dummy2_21 |   .0655459   .0327614     2.00   0.071    -.0065614    .1376532
         dummy2_22 |   .0958544   .0321355     2.98   0.012     .0251246    .1665841
         dummy2_23 |   .2214021   .0284216     7.79   0.000     .1588466    .2839577
         dummy2_24 |   .1418823   .0212155     6.69   0.000     .0951874    .1885771
         dummy2_25 |   .1445502   .0275105     5.25   0.000     .0840001    .2051003
         dummy2_26 |   .1796899   .0231474     7.76   0.000     .1287427    .2306371
         dummy2_27 |   .2047561   .0275586     7.43   0.000        .1441    .2654122
         dummy2_28 |   .1562362   .0249676     6.26   0.000     .1012828    .2111896
         dummy2_29 |   .1744452   .0247644     7.04   0.000     .1199391    .2289512
         dummy2_30 |   .1230276    .020973     5.87   0.000     .0768663    .1691888
         dummy2_31 |   .1825417   .0229778     7.94   0.000     .1319679    .2331155
         dummy2_32 |   .2126397   .0274094     7.76   0.000      .152312    .2729674
         dummy2_33 |   .1478361   .0249593     5.92   0.000      .092901    .2027712
         dummy2_34 |   .1980152   .0245515     8.07   0.000     .1439777    .2520526
         dummy2_35 |   .1467196   .0214354     6.84   0.000     .0995405    .1938987
         dummy2_36 |   .1228936   .0235381     5.22   0.000     .0710867    .1747006
         dummy2_37 |   .1597742   .0256596     6.23   0.000     .1032978    .2162507
         dummy2_38 |   .1733645   .0271288     6.39   0.000     .1136543    .2330747
         dummy2_39 |   .1512689   .0291359     5.19   0.000     .0871413    .2153965
         dummy2_40 |   .1047454   .0291331     3.60   0.004     .0406238    .1688669
         dummy2_41 |   .1457085   .0304851     4.78   0.001     .0786113    .2128057
         dummy2_42 |   .1303687   .0301524     4.32   0.001     .0640038    .1967336
         dummy2_43 |   .1521757   .0270323     5.63   0.000     .0926781    .2116734
         dummy2_44 |   .1685186    .029373     5.74   0.000      .103869    .2331681
         dummy2_45 |   .1885894   .0238856     7.90   0.000     .1360176    .2411612
         dummy2_46 |          0  (omitted)
         dummy2_47 |   .1375648   .0205645     6.69   0.000     .0923027    .1828269
         dummy2_48 |   .1740202   .0205668     8.46   0.000     .1287529    .2192874
         dummy2_49 |          0  (omitted)
         dummy2_50 |   .1633078   .0250672     6.51   0.000     .1081353    .2184803
         dummy2_51 |  -.1062795   .0194228    -5.47   0.000    -.1490288   -.0635302
         dummy2_52 |   .1340513   .0178352     7.52   0.000     .0947964    .1733063
         dummy2_53 |   .2022206    .021489     9.41   0.000     .1549237    .2495175
         dummy2_54 |   .1553278   .0219952     7.06   0.000     .1069168    .2037389
         dummy2_55 |   .1616511   .0219151     7.38   0.000     .1134163    .2098859
         dummy2_56 |    .195869   .0191627    10.22   0.000     .1536922    .2380458
         dummy2_57 |     .16997   .0220495     7.71   0.000     .1214393    .2185008
         dummy2_58 |   .1171217   .0208921     5.61   0.000     .0711385    .1631048
         dummy2_59 |   .1784279   .0208061     8.58   0.000     .1326341    .2242217
         dummy2_60 |   .2631083    .023676    11.11   0.000     .2109979    .3152187
         dummy2_61 |   .1612211   .0246748     6.53   0.000     .1069122      .21553
         dummy2_62 |   .1698625   .0236038     7.20   0.000     .1179109    .2218141
         dummy2_63 |   .1522221   .0243086     6.26   0.000     .0987192     .205725
         dummy2_64 |   .2807709   .0252377    11.13   0.000     .2252232    .3363186
         dummy2_65 |   .1329603   .0224591     5.92   0.000     .0835283    .1823924
         dummy2_66 |   .1594106   .0275838     5.78   0.000     .0986992    .2201221
         dummy2_67 |   .1420119   .0286332     4.96   0.000     .0789907     .205033
         dummy2_68 |   .0196525   .0256195     0.77   0.459    -.0367356    .0760407
         dummy2_69 |   .1070083   .0277175     3.86   0.003     .0460024    .1680142
         dummy2_70 |   .0927571   .0248887     3.73   0.003     .0379774    .1475368
         dummy2_71 |   .1369136   .0288701     4.74   0.001     .0733709    .2004564
         dummy2_72 |    .111997   .0287498     3.90   0.002      .048719    .1752749
         dummy2_73 |   .0410769   .0263215     1.56   0.147    -.0168562      .09901
         dummy2_74 |   .1349885    .026865     5.02   0.000      .075859     .194118
         dummy2_75 |   .1264196    .028496     4.44   0.001     .0637004    .1891388
         dummy2_76 |   .1287008   .0291774     4.41   0.001     .0644819    .1929198
         dummy2_77 |   .1180102   .0284208     4.15   0.002     .0554565    .1805639
         dummy2_78 |    .119536   .0287216     4.16   0.002     .0563202    .1827519
         dummy2_79 |   .1357528   .0280545     4.84   0.001     .0740052    .1975004
         dummy2_80 |   .1294014   .0281715     4.59   0.001     .0673963    .1914064
         dummy2_81 |   .1013542   .0280973     3.61   0.004     .0395124    .1631961
         dummy2_82 |   .1481939   .0293554     5.05   0.000     .0835831    .2128048
         dummy2_83 |   .1181126   .0299474     3.94   0.002     .0521988    .1840264
         dummy2_84 |   .1155032   .0292218     3.95   0.002     .0511865      .17982
         dummy2_85 |   .1365883   .0297637     4.59   0.001     .0710789    .2020977
         dummy2_86 |    .173896   .0297873     5.84   0.000     .1083345    .2394574
         dummy2_87 |   .0899659    .028979     3.10   0.010     .0261835    .1537482
         dummy2_88 |   .0506309   .0297309     1.70   0.117    -.0148064    .1160681
         dummy2_89 |   .2238254   .0283518     7.89   0.000     .1614235    .2862274
         dummy2_90 |   .0841658   .0381967     2.20   0.050     .0000954    .1682362
         dummy2_91 |    .111428   .0265986     4.19   0.002     .0528848    .1699712
         dummy2_92 |   .1978473   .0209934     9.42   0.000     .1516412    .2440533
         dummy2_93 |   .1891596    .025021     7.56   0.000     .1340888    .2442304
         dummy2_94 |   .1933922   .0243333     7.95   0.000     .1398349    .2469495
         dummy2_95 |   .3746225   .0212545    17.63   0.000     .3278417    .4214034
         dummy2_96 |   .1457233   .0215563     6.76   0.000     .0982783    .1931683
         dummy2_97 |   .2196488   .0215274    10.20   0.000     .1722673    .2670303
         dummy2_98 |   .1129888    .026674     4.24   0.001     .0542796    .1716979
         dummy2_99 |    .054853   .0223121     2.46   0.032     .0057444    .1039617
        dummy2_100 |   .2311188   .0200778    11.51   0.000     .1869279    .2753097
        dummy2_101 |   .1165266   .0208938     5.58   0.000     .0705397    .1625136
        dummy2_102 |  -.0561424    .022444    -2.50   0.029    -.1055414   -.0067434
        dummy2_103 |   .2579798   .0227965    11.32   0.000     .2078051    .3081546
        dummy2_104 |   .1633204   .0283578     5.76   0.000     .1009054    .2257354
        dummy2_105 |   .1846045   .0284253     6.49   0.000     .1220409    .2471681
        dummy2_106 |   .1426055   .0275069     5.18   0.000     .0820633    .2031478
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .2139148   .0266855     8.02   0.000     .1551803    .2726492
        dummy2_110 |          0  (omitted)
        dummy2_111 |   .1735981   .0247906     7.00   0.000     .1190343    .2281618
        dummy2_112 |   .1168746   .0177653     6.58   0.000     .0777734    .1559758
        dummy2_113 |   .1411183   .0229675     6.14   0.000     .0905672    .1916695
        dummy2_114 |    .140104   .0240536     5.82   0.000     .0871624    .1930456
        dummy2_115 |   .1779086   .0242984     7.32   0.000     .1244282    .2313889
        dummy2_116 |   .1508272   .0244208     6.18   0.000     .0970773     .204577
        dummy2_117 |   .0890382   .0228675     3.89   0.003     .0387072    .1393692
        dummy2_118 |   .1452228   .0191844     7.57   0.000     .1029982    .1874474
        dummy2_119 |   .1592021   .0243749     6.53   0.000     .1055534    .2128508
        dummy2_120 |   .1659126   .0251578     6.59   0.000     .1105407    .2212846
        dummy2_121 |   .1567319    .023734     6.60   0.000     .1044936    .2089701
        dummy2_122 |   .1471138   .0238629     6.16   0.000     .0945918    .1996357
        dummy2_123 |   .1294054   .0221243     5.85   0.000     .0807102    .1781006
        dummy2_124 |   .1211247   .0197095     6.15   0.000     .0777444     .164505
        dummy2_125 |   .1635917    .025011     6.54   0.000     .1085428    .2186406
        dummy2_126 |   .1691582   .0250519     6.75   0.000     .1140194     .224297
        dummy2_127 |   .1517082   .0261253     5.81   0.000     .0942068    .2092097
        dummy2_128 |   .1496434   .0254285     5.88   0.000     .0936755    .2056112
        dummy2_129 |   .1660212   .0265963     6.24   0.000     .1074832    .2245592
        dummy2_130 |   .2352127   .0265561     8.86   0.000     .1767632    .2936622
        dummy2_131 |   .1773212   .0243234     7.29   0.000     .1237858    .2308566
        dummy2_132 |   .1728148   .0261302     6.61   0.000     .1153026    .2303269
        dummy2_133 |   .1029849   .0199191     5.17   0.000     .0591432    .1468266
        dummy2_134 |  -.0035124   .0453586    -0.08   0.940     -.103346    .0963211
        dummy2_135 |   .0431504   .0143464     3.01   0.012     .0115743    .0747266
        dummy2_136 |   .0784463   .0204334     3.84   0.003     .0334726    .1234199
        dummy2_137 |   .1083197   .0227019     4.77   0.001     .0583531    .1582863
        dummy2_138 |   .0926079   .0194106     4.77   0.001     .0498855    .1353302
        dummy2_139 |          0  (omitted)
        dummy2_140 |   .0771911   .0180968     4.27   0.001     .0373602    .1170219
        dummy2_141 |   .1361199   .0222787     6.11   0.000     .0870848    .1851551
        dummy2_142 |   .1234298   .0230504     5.35   0.000     .0726963    .1741633
        dummy2_143 |   .0895144   .0164169     5.45   0.000     .0533811    .1256477
        dummy2_144 |   .0948422   .0174427     5.44   0.000      .056451    .1332333
        dummy2_145 |   .0879339    .011986     7.34   0.000     .0615528     .114315
        dummy2_146 |   .1036738    .017811     5.82   0.000      .064472    .1428757
        dummy2_147 |   .1264772   .0224395     5.64   0.000     .0770881    .1758663
        dummy2_148 |    .103986   .0173427     6.00   0.000      .065815     .142157
        dummy2_149 |  -.0073795   .0024453    -3.02   0.012    -.0127614   -.0019975
        dummy2_150 |    .076511   .0147565     5.18   0.000     .0440321    .1089899
        dummy2_151 |     .05803   .0110208     5.27   0.000     .0337734    .0822865
        dummy2_152 |   .1112189   .0180642     6.16   0.000       .07146    .1509779
        dummy2_153 |  -.0102408   .0072143    -1.42   0.183    -.0261194    .0056378
        dummy2_154 |          0  (omitted)
        dummy2_155 |   .0844252   .0296114     2.85   0.016      .019251    .1495994
        dummy2_156 |   .1215392   .0317634     3.83   0.003     .0516285    .1914499
        dummy2_157 |   .1114102   .0283146     3.93   0.002     .0490903    .1737302
        dummy2_158 |   .0332118   .0291983     1.14   0.280    -.0310532    .0974767
        dummy2_159 |   .0670857   .0272613     2.46   0.032     .0070841    .1270874
        dummy2_160 |    .111149   .0293397     3.79   0.003     .0465728    .1757252
        dummy2_161 |   .2107475   .0265518     7.94   0.000     .1523074    .2691876
        dummy2_162 |   .1194719   .0270218     4.42   0.001     .0599973    .1789465
        dummy2_163 |   .0827509    .026631     3.11   0.010     .0241366    .1413653
        dummy2_164 |    .109835     .02919     3.76   0.003     .0455883    .1740817
        dummy2_165 |   .1038556   .0281001     3.70   0.004     .0420078    .1657035
        dummy2_166 |   .1060615   .0271692     3.90   0.002     .0462625    .1658605
        dummy2_167 |  -.0360813   .0427367    -0.84   0.417    -.1301441    .0579816
        dummy2_168 |   .0681625   .0267959     2.54   0.027     .0091852    .1271398
        dummy2_169 |    .104237   .0293219     3.55   0.005        .0397    .1687741
        dummy2_170 |   .1471954   .0311749     4.72   0.001     .0785799    .2158109
        dummy2_171 |   .0991432   .0308482     3.21   0.008     .0312469    .1670396
        dummy2_172 |   .0969347   .0305385     3.17   0.009     .0297199    .1641494
        dummy2_173 |   .1142187   .0309029     3.70   0.004     .0462019    .1822356
        dummy2_174 |   .1865897   .0317146     5.88   0.000     .1167864     .256393
        dummy2_175 |   .1127974   .0304289     3.71   0.003     .0458237     .179771
        dummy2_176 |   .0983541   .0306368     3.21   0.008      .030923    .1657852
        dummy2_177 |   .1611756   .0191464     8.42   0.000     .1190347    .2033165
        dummy2_178 |   .0366438   .0314724     1.16   0.269    -.0326265     .105914
        dummy2_179 |   .1843363   .0156456    11.78   0.000     .1499006     .218772
        dummy2_180 |   .1641176   .0147478    11.13   0.000     .1316579    .1965774
        dummy2_181 |   .1313404   .0169652     7.74   0.000     .0940002    .1686805
        dummy2_182 |   .1820645   .0174948    10.41   0.000     .1435587    .2205702
        dummy2_183 |   .1301315   .0135194     9.63   0.000     .1003755    .1598874
        dummy2_184 |   .1375209   .0133421    10.31   0.000     .1081551    .1668867
        dummy2_185 |   .1686365   .0164555    10.25   0.000     .1324181    .2048548
        dummy2_186 |   .1685331   .0178516     9.44   0.000      .129242    .2078242
        dummy2_187 |   .1761161   .0170304    10.34   0.000     .1386325    .2135997
        dummy2_188 |   .1426731   .0141923    10.05   0.000     .1114361    .1739101
        dummy2_189 |   .1403265   .0138858    10.11   0.000     .1097641    .1708889
        dummy2_190 |   .1113964   .0127891     8.71   0.000     .0832478    .1395451
        dummy2_191 |   .1498956    .017351     8.64   0.000     .1117062    .1880849
        dummy2_192 |   .1964615   .0198937     9.88   0.000     .1526759    .2402471
        dummy2_193 |   .1513625   .0191452     7.91   0.000     .1092243    .1935008
        dummy2_194 |   .1401236   .0192127     7.29   0.000     .0978368    .1824105
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |   .2179619   .0182632    11.93   0.000      .177765    .2581588
        dummy2_198 |   .1574549   .0191415     8.23   0.000     .1153247     .199585
        dummy2_199 |   .1146024   .0298103     3.84   0.003     .0489903    .1802145
        dummy2_200 |   .0055396   .0300509     0.18   0.857     -.060602    .0716811
        dummy2_201 |   .0793986   .0281826     2.82   0.017     .0173691    .1414281
        dummy2_202 |   .0162356   .0292079     0.56   0.589    -.0480507    .0805218
        dummy2_203 |   .1356969   .0295672     4.59   0.001     .0706199    .2007739
        dummy2_204 |   .1037123   .0297326     3.49   0.005     .0382713    .1691533
        dummy2_205 |   .0569738   .0240091     2.37   0.037     .0041302    .1098174
        dummy2_206 |   .0774079   .0274765     2.82   0.017     .0169326    .1378833
        dummy2_207 |   .0894258   .0273315     3.27   0.007     .0292695     .149582
        dummy2_208 |   .1092968   .0287841     3.80   0.003     .0459435    .1726502
        dummy2_209 |   .0747723   .0282809     2.64   0.023     .0125265    .1370181
        dummy2_210 |   .1018165    .027889     3.65   0.004     .0404333    .1631998
        dummy2_211 |   .1875611   .0269642     6.96   0.000     .1282134    .2469088
        dummy2_212 |   .1085057   .0280519     3.87   0.003     .0467638    .1702476
        dummy2_213 |   .1369711   .0279753     4.90   0.000     .0753979    .1985442
        dummy2_214 |   .0885112   .0300552     2.94   0.013     .0223601    .1546623
        dummy2_215 |   .0963502   .0301202     3.20   0.008     .0300561    .1626443
        dummy2_216 |   .1134754   .0296278     3.83   0.003      .048265    .1786858
        dummy2_217 |   .0989466   .0300906     3.29   0.007     .0327176    .1651756
        dummy2_218 |   .1362723   .0299522     4.55   0.001      .070348    .2021966
        dummy2_219 |   .0880906   .0296765     2.97   0.013      .022773    .1534081
        dummy2_220 |   .0893823    .029913     2.99   0.012     .0235443    .1552203
        dummy2_221 |   .1045502   .0333529     3.13   0.009     .0311409    .1779595
        dummy2_222 |   .0674749   .0330534     2.04   0.066     -.005275    .1402249
        dummy2_223 |   .0872617   .0321267     2.72   0.020     .0165513    .1579721
        dummy2_224 |   .0884164    .031496     2.81   0.017     .0190941    .1577387
        dummy2_225 |   .0796635   .0319634     2.49   0.030     .0093125    .1500144
        dummy2_226 |   .0960378   .0327177     2.94   0.014     .0240266     .168049
        dummy2_227 |   .0675145   .0314664     2.15   0.055    -.0017427    .1367716
        dummy2_228 |   .0863971   .0321083     2.69   0.021     .0157272     .157067
        dummy2_229 |   .0901925   .0323193     2.79   0.018     .0190583    .1613267
        dummy2_230 |    .119538   .0330926     3.61   0.004     .0467016    .1923743
        dummy2_231 |   .1110022   .0320857     3.46   0.005     .0403821    .1816224
        dummy2_232 |   .1017896   .0317204     3.21   0.008     .0319735    .1716056
        dummy2_233 |    .078991   .0327233     2.41   0.034     .0069674    .1510145
        dummy2_234 |   .0813347    .031815     2.56   0.027     .0113103    .1513591
        dummy2_235 |   .0820896   .0322605     2.54   0.027     .0110849    .1530944
        dummy2_236 |   .1067198   .0335636     3.18   0.009     .0328469    .1805927
        dummy2_237 |   .1066642   .0334765     3.19   0.009     .0329829    .1803454
        dummy2_238 |    .098002    .033021     2.97   0.013     .0253233    .1706806
        dummy2_239 |   .1221645   .0332218     3.68   0.004     .0490437    .1952852
        dummy2_240 |   .1530817   .0332807     4.60   0.001     .0798314     .226332
        dummy2_241 |   .1026163   .0339603     3.02   0.012     .0278703    .1773624
        dummy2_242 |   .0987781   .0330883     2.99   0.012     .0259513     .171605
        dummy2_243 |   .1211153   .0322445     3.76   0.003     .0501456     .192085
        dummy2_244 |   .0472961   .0303779     1.56   0.148    -.0195652    .1141573
        dummy2_245 |   .1127707   .0308742     3.65   0.004      .044817    .1807244
        dummy2_246 |   .1272353   .0296885     4.29   0.001     .0618914    .1925792
        dummy2_247 |   .1028356   .0311092     3.31   0.007     .0343647    .1713065
        dummy2_248 |   .1274811   .0313527     4.07   0.002     .0584742     .196488
        dummy2_249 |   .1735232   .0312249     5.56   0.000     .1047977    .2422488
        dummy2_250 |   .0947241   .0309093     3.06   0.011     .0266931    .1627551
        dummy2_251 |   .1286327   .0310358     4.14   0.002     .0603235     .196942
        dummy2_252 |   .1193947   .0315763     3.78   0.003     .0498958    .1888935
        dummy2_253 |   .1272441   .0308014     4.13   0.002     .0594506    .1950376
        dummy2_254 |   .1244055   .0307432     4.05   0.002     .0567402    .1920709
        dummy2_255 |   .2151857   .0314883     6.83   0.000     .1458803     .284491
        dummy2_256 |   .1422619   .0305324     4.66   0.001     .0750605    .2094632
        dummy2_257 |   .1277195   .0304697     4.19   0.002     .0606562    .1947828
        dummy2_258 |   .1013647   .0316454     3.20   0.008     .0317137    .1710157
        dummy2_259 |   .0791432   .0316876     2.50   0.030     .0093992    .1488872
        dummy2_260 |   .1003516   .0309912     3.24   0.008     .0321405    .1685627
        dummy2_261 |    .113589    .031474     3.61   0.004     .0443151    .1828628
        dummy2_262 |   .1164418    .031365     3.71   0.003     .0474079    .1854757
        dummy2_263 |   .0889562   .0318917     2.79   0.018      .018763    .1591494
        dummy2_264 |   .0879853   .0312188     2.82   0.017     .0192732    .1566974
             _cons |  -.2515771    .053647    -4.69   0.001    -.3696534   -.1335008
------------------------------------------------------------------------------------

. eststo table6_LS_int

. 
. test l.CPI_lls=l.CPI_mls

 ( 1)  L.CPI_lls - L.CPI_mls = 0

       F(  1,    11) =    0.66
            Prob > F =    0.4352

. test l.CPI_lls=l.CPI_hls 

 ( 1)  L.CPI_lls - L.CPI_hls = 0

       F(  1,    11) =    0.30
            Prob > F =    0.5937

. test l.CPI_mls=l.CPI_hls 

 ( 1)  L.CPI_mls - L.CPI_hls = 0

       F(  1,    11) =    0.02
            Prob > F =    0.8914

. 
. ****************************************************************
. ************ Just controls for institutions  *******************
. ****************************************************************
. 
. 
. reg tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.pmr l.tradelib  l.compindex lo_eng lo_fr lo_nor e
> nfocontrcost ruleoflaw legal_sys indep_judic y_* dummy* if tfpcorrectedoverklems>-0.282 & tfpcorrectedoverklems<0.281, cl(
> country)

Linear regression                                      Number of obs =    1868
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2731
                                                       Root MSE      =  .06444

                                     (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------------
                   |               Robust
tfpcorrectedover~s |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0612058    .025322     2.42   0.034     .0054725     .116939
                   |
     tecnogapklems |
               L1. |  -.0045374   .0070152    -0.65   0.531    -.0199777    .0109029
                   |
         ind_trend |   .0511149   .0052394     9.76   0.000      .039583    .0626467
                   |
               pmr |
               L1. |  -.0310466    .015808    -1.96   0.075    -.0658397    .0037464
                   |
          tradelib |
               L1. |   .0150678   .0047106     3.20   0.008     .0046998    .0254358
                   |
         compindex |
               L1. |   .0829699   .0204204     4.06   0.002     .0380249    .1279149
                   |
            lo_eng |   -.291458   .0365897    -7.97   0.000    -.3719913   -.2109247
             lo_fr |  -.3041036   .0427047    -7.12   0.000     -.398096   -.2101112
            lo_nor |  -.2022401   .0348197    -5.81   0.000    -.2788779   -.1256024
     enfocontrcost |  -.0099978   .0007436   -13.45   0.000    -.0116344   -.0083611
         ruleoflaw |   .0210637   .0298299     0.71   0.495    -.0445914    .0867188
         legal_sys |   .0115412   .0059141     1.95   0.077    -.0014757    .0245581
       indep_judic |  -.0018583   .0047156    -0.39   0.701    -.0122373    .0085208
               y_1 |          0  (omitted)
               y_2 |   .0228787   .0143389     1.60   0.139     -.008681    .0544385
               y_3 |   .0276041   .0072638     3.80   0.003     .0116166    .0435916
               y_4 |          0  (omitted)
               y_5 |   .0253851   .0132133     1.92   0.081    -.0036972    .0544673
               y_6 |   .0279632   .0059878     4.67   0.001     .0147842    .0411422
               y_7 |   .0019601   .0071404     0.27   0.789    -.0137558     .017676
               y_8 |   .0063065   .0089416     0.71   0.495    -.0133739    .0259869
               y_9 |   .0106437    .010325     1.03   0.325    -.0120816    .0333689
              y_10 |   .0217101   .0056238     3.86   0.003     .0093323    .0340879
              y_11 |   .0086434   .0080955     1.07   0.309    -.0091747    .0264614
          dummy2_1 |   .0286315   .0114797     2.49   0.030     .0033649    .0538981
          dummy2_2 |  -.0195361    .014332    -1.36   0.200    -.0510806    .0120085
          dummy2_3 |   .0372046   .0117024     3.18   0.009     .0114477    .0629615
          dummy2_4 |   .0116234   .0052357     2.22   0.048     .0000996    .0231471
          dummy2_5 |   .0314348   .0129669     2.42   0.034     .0028949    .0599747
          dummy2_6 |   .0922635   .0123939     7.44   0.000     .0649847    .1195423
          dummy2_7 |   .0312925   .0171862     1.82   0.096     -.006534    .0691191
          dummy2_8 |   .0425595    .008121     5.24   0.000     .0246852    .0604338
          dummy2_9 |   .0106891   .0084951     1.26   0.234    -.0080085    .0293868
         dummy2_10 |   .0310757   .0089756     3.46   0.005     .0113205    .0508308
         dummy2_11 |   .0478214   .0092411     5.17   0.000     .0274819    .0681609
         dummy2_12 |   .0083104   .0033085     2.51   0.029     .0010284    .0155924
         dummy2_13 |  -.0060503   .0168811    -0.36   0.727    -.0432054    .0311049
         dummy2_14 |          0  (omitted)
         dummy2_15 |   .0332874   .0085068     3.91   0.002     .0145641    .0520107
         dummy2_16 |   .0215637   .0134063     1.61   0.136    -.0079433    .0510707
         dummy2_17 |   .0453983   .0140893     3.22   0.008     .0143881    .0764086
         dummy2_18 |   .0485886   .0151968     3.20   0.008     .0151407    .0820365
         dummy2_19 |   .0583686   .0139826     4.17   0.002     .0275931     .089144
         dummy2_20 |   .0311528   .0131025     2.38   0.037     .0023145    .0599912
         dummy2_21 |   .0186408   .0180328     1.03   0.323    -.0210491    .0583308
         dummy2_22 |   .0362749   .0149947     2.42   0.034     .0032718     .069278
         dummy2_23 |   .0483923   .0095433     5.07   0.000     .0273878    .0693969
         dummy2_24 |  -.0179546   .0094617    -1.90   0.084    -.0387796    .0028705
         dummy2_25 |  -.0301924   .0088473    -3.41   0.006    -.0496651   -.0107196
         dummy2_26 |   .0123893   .0053949     2.30   0.042     .0005153    .0242633
         dummy2_27 |   .0339355   .0095023     3.57   0.004     .0130211      .05485
         dummy2_28 |  -.0198836    .005155    -3.86   0.003    -.0312296   -.0085376
         dummy2_29 |          0  (omitted)
         dummy2_30 |  -.0477552   .0054177    -8.81   0.000    -.0596795   -.0358309
         dummy2_31 |   .0058054   .0019601     2.96   0.013     .0014913    .0101195
         dummy2_32 |   .0418574   .0090583     4.62   0.001     .0219202    .0617946
         dummy2_33 |  -.0244845   .0054292    -4.51   0.001    -.0364341   -.0125349
         dummy2_34 |   .0290009   .0061253     4.73   0.001     .0155193    .0424826
         dummy2_35 |  -.0266069   .0094636    -2.81   0.017    -.0474361   -.0057778
         dummy2_36 |  -.0522428   .0026231   -19.92   0.000    -.0580161   -.0464694
         dummy2_37 |   -.010022    .007473    -1.34   0.207    -.0264701     .006426
         dummy2_38 |   .0136628   .0134287     1.02   0.331    -.0158935    .0432192
         dummy2_39 |  -.0201136   .0117699    -1.71   0.115     -.046019    .0057919
         dummy2_40 |  -.0669663   .0122022    -5.49   0.000    -.0938231   -.0401096
         dummy2_41 |   -.034479   .0125075    -2.76   0.019    -.0620078   -.0069502
         dummy2_42 |  -.0492029   .0126833    -3.88   0.003    -.0771187   -.0212872
         dummy2_43 |  -.0073599   .0140547    -0.52   0.611    -.0382941    .0235743
         dummy2_44 |  -.0050562   .0120691    -0.42   0.683      -.03162    .0215076
         dummy2_45 |   .1481781   .0467262     3.17   0.009     .0453344    .2510217
         dummy2_46 |          0  (omitted)
         dummy2_47 |   .0998326   .0446007     2.24   0.047     .0016671    .1979981
         dummy2_48 |   .1286589   .0405277     3.17   0.009      .039458    .2178599
         dummy2_49 |          0  (omitted)
         dummy2_50 |   .1204078   .0487265     2.47   0.031     .0131615    .2276542
         dummy2_51 |  -.1440646   .0419379    -3.44   0.006    -.2363694   -.0517598
         dummy2_52 |   .0985633   .0381957     2.58   0.026     .0144951    .1826316
         dummy2_53 |    .156747   .0453323     3.46   0.005     .0569712    .2565228
         dummy2_54 |   .1130833   .0458097     2.47   0.031     .0122569    .2139096
         dummy2_55 |   .1160636   .0457075     2.54   0.028     .0154621     .216665
         dummy2_56 |   .1514079   .0419682     3.61   0.004     .0590366    .2437793
         dummy2_57 |   .1238663   .0423453     2.93   0.014      .030665    .2170676
         dummy2_58 |   .0742034   .0415322     1.79   0.102    -.0172083    .1656151
         dummy2_59 |   .1342025   .0432135     3.11   0.010     .0390903    .2293148
         dummy2_60 |   .2267737   .0474503     4.78   0.001     .1223362    .3312112
         dummy2_61 |   .1156263   .0493169     2.34   0.039     .0070805    .2241721
         dummy2_62 |   .1276191    .049425     2.58   0.025     .0188354    .2364029
         dummy2_63 |   .1069526   .0496113     2.16   0.054    -.0022412    .2161464
         dummy2_64 |   .2355404   .0487389     4.83   0.001     .1282667     .342814
         dummy2_65 |   .1005985   .0478453     2.10   0.059    -.0047083    .2059053
         dummy2_66 |    .113979   .0526557     2.16   0.053    -.0019154    .2298734
         dummy2_67 |  -.2552244   .0332465    -7.68   0.000    -.3283995   -.1820494
         dummy2_68 |  -.3680223   .0324601   -11.34   0.000    -.4394665   -.2965781
         dummy2_69 |  -.2873279   .0320569    -8.96   0.000    -.3578846   -.2167711
         dummy2_70 |  -.3128071   .0314534    -9.95   0.000    -.3820356   -.2435785
         dummy2_71 |  -.2691188   .0333629    -8.07   0.000    -.3425501   -.1956876
         dummy2_72 |  -.2891788   .0329802    -8.77   0.000    -.3617677   -.2165898
         dummy2_73 |  -.3473153   .0322812   -10.76   0.000    -.4183657   -.2762649
         dummy2_74 |  -.2517372   .0317304    -7.93   0.000    -.3215754    -.181899
         dummy2_75 |  -.2771567   .0328718    -8.43   0.000     -.349507   -.2048063
         dummy2_76 |  -.2728268   .0335034    -8.14   0.000    -.3465673   -.1990862
         dummy2_77 |  -.2859871   .0328001    -8.72   0.000    -.3581796   -.2137946
         dummy2_78 |   -.284534   .0330881    -8.60   0.000    -.3573604   -.2117077
         dummy2_79 |  -.2668604   .0333008    -8.01   0.000     -.340155   -.1935658
         dummy2_80 |  -.2757004   .0330164    -8.35   0.000     -.348369   -.2030318
         dummy2_81 |   -.303953   .0329074    -9.24   0.000    -.3763818   -.2315242
         dummy2_82 |  -.2410713   .0336233    -7.17   0.000    -.3150758   -.1670668
         dummy2_83 |  -.2841624   .0339834    -8.36   0.000    -.3589594   -.2093654
         dummy2_84 |  -.2801888   .0331027    -8.46   0.000    -.3530473   -.2073304
         dummy2_85 |    -.26571   .0337347    -7.88   0.000    -.3399596   -.1914603
         dummy2_86 |  -.2284176   .0337677    -6.76   0.000    -.3027397   -.1540955
         dummy2_87 |   -.289428   .0338801    -8.54   0.000    -.3639976   -.2148584
         dummy2_88 |  -.3532345   .0336873   -10.49   0.000    -.4273797   -.2790893
         dummy2_89 |   -.163452   .0153457   -10.65   0.000    -.1972277   -.1296762
         dummy2_90 |  -.2883706   .0529908    -5.44   0.000    -.4050027   -.1717386
         dummy2_91 |  -.2711279   .0087592   -30.95   0.000    -.2904068    -.251849
         dummy2_92 |  -.1793341   .0124454   -14.41   0.000    -.2067262   -.1519419
         dummy2_93 |  -.1938194   .0095225   -20.35   0.000    -.2147782   -.1728606
         dummy2_94 |  -.1940347   .0119293   -16.27   0.000     -.220291   -.1677784
         dummy2_95 |          0  (omitted)
         dummy2_96 |  -.2354417   .0139263   -16.91   0.000    -.2660934     -.20479
         dummy2_97 |  -.1656157   .0146217   -11.33   0.000    -.1977978   -.1334335
         dummy2_98 |   -.276491   .0123791   -22.34   0.000    -.3037373   -.2492447
         dummy2_99 |  -.3319341    .014124   -23.50   0.000    -.3630208   -.3008473
        dummy2_100 |  -.1526821   .0213942    -7.14   0.000    -.1997704   -.1055939
        dummy2_101 |  -.2668564   .0228753   -11.67   0.000    -.3172046   -.2165083
        dummy2_102 |  -.4486482   .0175693   -25.54   0.000    -.4873179   -.4099784
        dummy2_103 |  -.1219206   .0108872   -11.20   0.000    -.1458831    -.097958
        dummy2_104 |   -.237884    .009173   -25.93   0.000    -.2580736   -.2176943
        dummy2_105 |  -.2021212   .0151992   -13.30   0.000    -.2355744   -.1686681
        dummy2_106 |  -.2387988   .0129962   -18.37   0.000    -.2674034   -.2101943
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |  -.1825351   .0096226   -18.97   0.000    -.2037144   -.1613558
        dummy2_110 |          0  (omitted)
        dummy2_111 |   .2743012   .0478094     5.74   0.000     .1690736    .3795289
        dummy2_112 |   .2152533   .0369657     5.82   0.000     .1338925    .2966142
        dummy2_113 |   .2423776   .0467506     5.18   0.000     .1394802     .345275
        dummy2_114 |   .2389462   .0470066     5.08   0.000     .1354855     .342407
        dummy2_115 |   .2754771   .0477392     5.77   0.000     .1704037    .3805505
        dummy2_116 |   .2481027   .0481182     5.16   0.000     .1421953    .3540102
        dummy2_117 |   .1967314   .0495436     3.97   0.002     .0876866    .3057762
        dummy2_118 |   .2554294    .041777     6.11   0.000     .1634788      .34738
        dummy2_119 |   .2567938   .0481044     5.34   0.000     .1509167    .3626709
        dummy2_120 |   .2650208   .0487946     5.43   0.000     .1576247    .3724169
        dummy2_121 |   .2558352   .0474415     5.39   0.000     .1514172    .3602532
        dummy2_122 |   .2455967   .0473766     5.18   0.000     .1413216    .3498719
        dummy2_123 |   .2274513   .0422202     5.39   0.000     .1345252    .3203774
        dummy2_124 |   .2181068   .0387804     5.62   0.000     .1327516    .3034619
        dummy2_125 |   .2613913   .0483979     5.40   0.000     .1548683    .3679143
        dummy2_126 |   .2728411    .049627     5.50   0.000     .1636128    .3820695
        dummy2_127 |    .248446    .050329     4.94   0.000     .1376725    .3592194
        dummy2_128 |   .2502451   .0505004     4.96   0.000     .1390944    .3613958
        dummy2_129 |   .2592334   .0509724     5.09   0.000     .1470439    .3714229
        dummy2_130 |   .3287027   .0509041     6.46   0.000     .2166636    .4407418
        dummy2_131 |    .286894   .0501107     5.73   0.000     .1766011     .397187
        dummy2_132 |    .268768   .0508453     5.29   0.000     .1568584    .3806777
        dummy2_133 |  -.1859541   .0225499    -8.25   0.000    -.2355862    -.136322
        dummy2_134 |  -.2877568   .0516635    -5.57   0.000    -.4014673   -.1740464
        dummy2_135 |  -.2572266   .0186109   -13.82   0.000    -.2981888   -.2162644
        dummy2_136 |  -.2241219   .0220214   -10.18   0.000    -.2725906   -.1756531
        dummy2_137 |  -.1844175   .0226393    -8.15   0.000    -.2342462   -.1345887
        dummy2_138 |  -.2034277   .0212402    -9.58   0.000    -.2501771   -.1566783
        dummy2_139 |  -.2367758   .0285457    -8.29   0.000    -.2996044   -.1739472
        dummy2_140 |  -.2045565   .0226055    -9.05   0.000    -.2543109   -.1548022
        dummy2_141 |  -.1560767   .0229059    -6.81   0.000    -.2064923   -.1056612
        dummy2_142 |  -.1678144    .023545    -7.13   0.000    -.2196366   -.1159922
        dummy2_143 |  -.2124745   .0193826   -10.96   0.000    -.2551353   -.1698137
        dummy2_144 |  -.2039344   .0203078   -10.04   0.000    -.2486316   -.1592371
        dummy2_145 |  -.2200363   .0183862   -11.97   0.000    -.2605041   -.1795686
        dummy2_146 |  -.1976883   .0203566    -9.71   0.000    -.2424928   -.1528838
        dummy2_147 |  -.1655786    .022859    -7.24   0.000    -.2158909   -.1152663
        dummy2_148 |  -.1861483   .0214223    -8.69   0.000    -.2332986   -.1389981
        dummy2_149 |  -.3390098   .0145744   -23.26   0.000    -.3710878   -.3069318
        dummy2_150 |  -.2213176   .0192515   -11.50   0.000    -.2636898   -.1789454
        dummy2_151 |  -.2597024   .0167405   -15.51   0.000    -.2965481   -.2228568
        dummy2_152 |  -.1889476    .020362    -9.28   0.000    -.2337641   -.1441312
        dummy2_153 |  -.3122126   .0193284   -16.15   0.000    -.3547541    -.269671
        dummy2_154 |   -.330363   .0145164   -22.76   0.000    -.3623134   -.2984125
        dummy2_155 |   .1160704   .0611245     1.90   0.084    -.0184637    .2506045
        dummy2_156 |   .1236219   .0592899     2.09   0.061    -.0068742     .254118
        dummy2_157 |   .1359299   .0600833     2.26   0.045     .0036875    .2681722
        dummy2_158 |   .0536635   .0382032     1.40   0.188    -.0304211    .1377482
        dummy2_159 |   .0956147   .0562898     1.70   0.117    -.0282784    .2195078
        dummy2_160 |   .1361794   .0618092     2.20   0.050     .0001382    .2722207
        dummy2_161 |   .2587435   .0524661     4.93   0.000     .1432665    .3742205
        dummy2_162 |    .154703   .0552709     2.80   0.017     .0330525    .2763534
        dummy2_163 |   .1075664   .0548439     1.96   0.076    -.0131442    .2282769
        dummy2_164 |   .1390988   .0609308     2.28   0.043      .004991    .2732066
        dummy2_165 |   .1285205   .0585236     2.20   0.050     -.000289    .2573301
        dummy2_166 |   .1322704   .0559005     2.37   0.037     .0092342    .2553066
        dummy2_167 |  -.0066503   .0289951    -0.23   0.823     -.070468    .0571675
        dummy2_168 |   .0907609   .0448606     2.02   0.068    -.0079766    .1894983
        dummy2_169 |   .1290897   .0609844     2.12   0.058    -.0051361    .2633156
        dummy2_170 |   .1737064   .0647194     2.68   0.021     .0312599    .3161529
        dummy2_171 |   .1259521   .0650923     1.93   0.079     -.017315    .2692192
        dummy2_172 |   .1247381   .0650995     1.92   0.082     -.018545    .2680212
        dummy2_173 |   .1413731   .0650629     2.17   0.053    -.0018295    .2845756
        dummy2_174 |   .2127356   .0650196     3.27   0.007     .0696285    .3558428
        dummy2_175 |   .1509968   .0648569     2.33   0.040     .0082477    .2937459
        dummy2_176 |   .1266868   .0650522     1.95   0.077    -.0164922    .2698658
        dummy2_177 |   .1156187   .0438041     2.64   0.023     .0192066    .2120309
        dummy2_178 |          0  (omitted)
        dummy2_179 |   .1425384    .041842     3.41   0.006     .0504449    .2346319
        dummy2_180 |   .1218746   .0393776     3.10   0.010     .0352051     .208544
        dummy2_181 |   .0839427   .0427273     1.96   0.075    -.0100993    .1779848
        dummy2_182 |   .1344676    .043983     3.06   0.011     .0376617    .2312734
        dummy2_183 |   .0852345   .0393797     2.16   0.053    -.0014396    .1719086
        dummy2_184 |   .1015745   .0354765     2.86   0.015     .0234912    .1796577
        dummy2_185 |   .1189924   .0421709     2.82   0.017     .0261749    .2118098
        dummy2_186 |   .1249094   .0443361     2.82   0.017     .0273264    .2224924
        dummy2_187 |   .1280922   .0429316     2.98   0.012     .0336004     .222584
        dummy2_188 |   .0910198   .0380808     2.39   0.036     .0072045    .1748351
        dummy2_189 |   .0888946   .0317605     2.80   0.017     .0189902    .1587989
        dummy2_190 |   .0660482   .0321716     2.05   0.065     -.004761    .1368574
        dummy2_191 |   .1039616   .0427889     2.43   0.033     .0097839    .1981392
        dummy2_192 |   .1480986   .0456612     3.24   0.008     .0475989    .2485982
        dummy2_193 |     .10514   .0457679     2.30   0.042     .0044055    .2058745
        dummy2_194 |   .0896362   .0472062     1.90   0.084    -.0142639    .1935364
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |   .1747397   .0458016     3.82   0.003      .073931    .2755483
        dummy2_198 |   .1083225   .0467476     2.32   0.041     .0054317    .2112132
        dummy2_199 |   .1072368   .0295824     3.63   0.004     .0421264    .1723472
        dummy2_200 |          0  (omitted)
        dummy2_201 |   .0633498   .0292691     2.16   0.053     -.001071    .1277706
        dummy2_202 |  -.0022994   .0080648    -0.29   0.781      -.02005    .0154511
        dummy2_203 |   .1219861   .0312538     3.90   0.002      .053197    .1907752
        dummy2_204 |   .0880177   .0322152     2.73   0.020     .0171125    .1589229
        dummy2_205 |   .0530503   .0184402     2.88   0.015     .0124637     .093637
        dummy2_206 |   .0609495   .0276823     2.20   0.050     .0000212    .1218778
        dummy2_207 |    .072962   .0262835     2.78   0.018     .0151125    .1308115
        dummy2_208 |    .093523   .0288865     3.24   0.008     .0299443    .1571017
        dummy2_209 |   .0589417   .0291352     2.02   0.068    -.0051844    .1230678
        dummy2_210 |   .0873459   .0275667     3.17   0.009     .0266719    .1480198
        dummy2_211 |   .1733781   .0152857    11.34   0.000     .1397345    .2070217
        dummy2_212 |    .096737   .0256635     3.77   0.003     .0402521     .153222
        dummy2_213 |   .1303743   .0255241     5.11   0.000     .0741962    .1865524
        dummy2_214 |   .0768153   .0324256     2.37   0.037      .005447    .1481837
        dummy2_215 |   .0860139   .0324404     2.65   0.023     .0146131    .1574147
        dummy2_216 |   .1052714   .0325297     3.24   0.008     .0336739    .1768689
        dummy2_217 |   .0840339   .0332984     2.52   0.028     .0107447    .1573231
        dummy2_218 |   .1261202   .0325602     3.87   0.003     .0544558    .1977846
        dummy2_219 |   .0755037   .0331698     2.28   0.044     .0024974      .14851
        dummy2_220 |   .0735938    .033535     2.19   0.051    -.0002162    .1474038
        dummy2_221 |   .0987663   .0136191     7.25   0.000     .0687909    .1287417
        dummy2_222 |   .0722938   .0180015     4.02   0.002     .0326726    .1119149
        dummy2_223 |   .0752324   .0138605     5.43   0.000     .0447257    .1057391
        dummy2_224 |   .0734498   .0063777    11.52   0.000     .0594126    .0874869
        dummy2_225 |    .063303   .0120723     5.24   0.000      .036732    .0898739
        dummy2_226 |   .0822231   .0150909     5.45   0.000     .0490082    .1154379
        dummy2_227 |   .0739704   .0168498     4.39   0.001     .0368842    .1110566
        dummy2_228 |   .0887828    .013589     6.53   0.000     .0588735     .118692
        dummy2_229 |   .0784576   .0136756     5.74   0.000     .0483579    .1085573
        dummy2_230 |   .1074452   .0146526     7.33   0.000     .0751951    .1396954
        dummy2_231 |   .0990292   .0131547     7.53   0.000     .0700759    .1279825
        dummy2_232 |   .0896386   .0110309     8.13   0.000     .0653596    .1139175
        dummy2_233 |   .0681238   .0059916    11.37   0.000     .0549364    .0813113
        dummy2_234 |   .0691866   .0066245    10.44   0.000     .0546062     .083767
        dummy2_235 |   .0672706   .0117153     5.74   0.000     .0414853    .0930559
        dummy2_236 |   .1021439   .0171856     5.94   0.000     .0643187    .1399691
        dummy2_237 |   .0950525   .0168528     5.64   0.000     .0579598    .1321451
        dummy2_238 |   .0894507   .0173364     5.16   0.000     .0512935     .127608
        dummy2_239 |   .1082659   .0170902     6.33   0.000     .0706506    .1458812
        dummy2_240 |   .1424856   .0170115     8.38   0.000     .1050435    .1799276
        dummy2_241 |   .1138269   .0213779     5.32   0.000     .0667746    .1608793
        dummy2_242 |    .087275   .0171921     5.08   0.000     .0494354    .1251146
        dummy2_243 |  -.0160864   .0115834    -1.39   0.192    -.0415812    .0094085
        dummy2_244 |  -.0664073   .0112437    -5.91   0.000    -.0911546   -.0416601
        dummy2_245 |  -.0230519   .0121235    -1.90   0.084    -.0497356    .0036318
        dummy2_246 |  -.0147003   .0111331    -1.32   0.214    -.0392041    .0098035
        dummy2_247 |  -.0382765   .0130205    -2.94   0.013    -.0669344   -.0096187
        dummy2_248 |  -.0115833   .0131746    -0.88   0.398    -.0405804    .0174138
        dummy2_249 |  -.0025127    .010171    -0.25   0.809     -.024899    .0198736
        dummy2_250 |  -.0231426   .0106836    -2.17   0.053     -.046657    .0003718
        dummy2_251 |  -.0113257   .0130059    -0.87   0.402    -.0399515       .0173
        dummy2_252 |  -.0215256   .0129718    -1.66   0.125    -.0500764    .0070251
        dummy2_253 |  -.0120187   .0126373    -0.95   0.362    -.0398333    .0157959
        dummy2_254 |  -.0160774   .0126056    -1.28   0.228    -.0438222    .0116674
        dummy2_255 |   .0782395   .0087825     8.91   0.000     .0589094    .0975696
        dummy2_256 |   .0013482   .0111967     0.12   0.906    -.0232956    .0259921
        dummy2_257 |  -.0153407   .0122404    -1.25   0.236    -.0422816    .0116003
        dummy2_258 |  -.0209078   .0106037    -1.97   0.074    -.0442465    .0024308
        dummy2_259 |    -.06097   .0137557    -4.43   0.001    -.0912462   -.0306939
        dummy2_260 |  -.0307415   .0120645    -2.55   0.027    -.0572954   -.0041877
        dummy2_261 |  -.0283009   .0146966    -1.93   0.080    -.0606478    .0040461
        dummy2_262 |  -.0194079   .0126694    -1.53   0.154     -.047293    .0084772
        dummy2_263 |  -.0176006   .0151479    -1.16   0.270    -.0509411    .0157398
        dummy2_264 |  -.0522856   .0143609    -3.64   0.004    -.0838938   -.0206773
             _cons |   .2767225   .0464257     5.96   0.000     .1745402    .3789048
------------------------------------------------------------------------------------

. eststo table6_over

. 
. ****************************************************************
. ************  Manufacturing/services          ******************
. ****************************************************************
. 
. 
. gen manufacturing=1 if isic<16
(935 missing values generated)

. replace manufacturing=0 if manufacturing==.
(935 real changes made)

. 
. gen services=1 if isic>15
(1980 missing values generated)

. replace services=0 if services==.
(1980 real changes made)

. 
. gen CPI_service=compindex*services
(363 missing values generated)

. gen CPI_manufacturing=compindex*manufacturing 
(363 missing values generated)

. 
. xtset identif year
       panel variable:  identif (weakly balanced)
        time variable:  year, 1995 to 2005
                delta:  1 unit

. reg tfpcorrectedoverklems tfpleadershipklems l.tecnogapklems ind_trend l.pmr l.tradelib l.CPI_serv l.CPI_man y_* dummy* if
>  tfpcorrectedoverklems>-0.282 & tfpcorrectedoverklems<0.281 &   pcmpoolklems>0.5 & pcmpoolklems<3, cl(country)

Linear regression                                      Number of obs =    1847
                                                       F( 10,    11) =       .
                                                       Prob > F      =       .
                                                       R-squared     =  0.2701
                                                       Root MSE      =  .06342

                                     (Std. Err. adjusted for 12 clusters in country)
------------------------------------------------------------------------------------
                   |               Robust
tfpcorrectedover~s |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------------+----------------------------------------------------------------
tfpleadershipklems |   .0643777   .0233101     2.76   0.018     .0130725    .1156828
                   |
     tecnogapklems |
               L1. |   .0069153   .0042499     1.63   0.132    -.0024387    .0162693
                   |
         ind_trend |   .0446124   .0051693     8.63   0.000     .0332349    .0559898
                   |
               pmr |
               L1. |  -.0315673   .0197587    -1.60   0.138     -.075056    .0119213
                   |
          tradelib |
               L1. |   .0139697   .0039175     3.57   0.004     .0053474     .022592
                   |
       CPI_service |
               L1. |   .0171886   .0473118     0.36   0.723    -.0869439    .1213211
                   |
 CPI_manufacturing |
               L1. |   .1303764   .0320482     4.07   0.002     .0598388    .2009141
                   |
               y_1 |          0  (omitted)
               y_2 |          0  (omitted)
               y_3 |   .0047191   .0117688     0.40   0.696    -.0211838    .0306221
               y_4 |  -.0192946    .012953    -1.49   0.164    -.0478039    .0092148
               y_5 |   .0064833   .0106838     0.61   0.556    -.0170316    .0299982
               y_6 |   .0079661   .0125759     0.63   0.539    -.0197134    .0356456
               y_7 |  -.0215311   .0116104    -1.85   0.091    -.0470854    .0040231
               y_8 |  -.0173087    .016178    -1.07   0.308    -.0529163     .018299
               y_9 |  -.0140698   .0135149    -1.04   0.320    -.0438159    .0156764
              y_10 |  -.0053783   .0147836    -0.36   0.723    -.0379167    .0271601
              y_11 |  -.0153332   .0156584    -0.98   0.349    -.0497971    .0191307
          dummy2_1 |   .0737354   .0379789     1.94   0.078    -.0098556    .1573264
          dummy2_2 |   .0163315   .0372384     0.44   0.669    -.0656296    .0982925
          dummy2_3 |    .086938    .036048     2.41   0.035      .007597     .166279
          dummy2_4 |    .059688   .0363856     1.64   0.129    -.0203963    .1397722
          dummy2_5 |   .0807137   .0367848     2.19   0.051    -.0002492    .1616766
          dummy2_6 |   .1366539   .0363853     3.76   0.003     .0565705    .2167373
          dummy2_7 |   .0625937   .0339136     1.85   0.092    -.0120497    .1372371
          dummy2_8 |   .0827012    .035738     2.31   0.041     .0040423      .16136
          dummy2_9 |   .0584325     .03599     1.62   0.133     -.020781    .1376461
         dummy2_10 |    .079864   .0366298     2.18   0.052    -.0007576    .1604857
         dummy2_11 |   .0958716   .0360024     2.66   0.022     .0166309    .1751124
         dummy2_12 |    .061819   .0358542     1.72   0.113    -.0170956    .1407335
         dummy2_13 |   .0496505   .0421291     1.18   0.263    -.0430749     .142376
         dummy2_14 |   .0510866    .039021     1.31   0.217     -.034798    .1369711
         dummy2_15 |   .0839518   .0363779     2.31   0.041     .0038846    .1640191
         dummy2_16 |   .1267356   .0231832     5.47   0.000     .0757097    .1777615
         dummy2_17 |   .1509183   .0225078     6.71   0.000     .1013791    .2004576
         dummy2_18 |   .1481548   .0226901     6.53   0.000     .0982142    .1980953
         dummy2_19 |   .1652495   .0224877     7.35   0.000     .1157544    .2147445
         dummy2_20 |   .1371443   .0235805     5.82   0.000     .0852439    .1890447
         dummy2_21 |   .1085248   .0238992     4.54   0.001     .0559229    .1611266
         dummy2_22 |   .1375933   .0224311     6.13   0.000     .0882227    .1869639
         dummy2_23 |     .17581   .0238775     7.36   0.000      .123256    .2283639
         dummy2_24 |   .0985474   .0187634     5.25   0.000     .0572495    .1398454
         dummy2_25 |   .0988954   .0227086     4.35   0.001      .048914    .1488768
         dummy2_26 |   .1354861   .0201574     6.72   0.000       .09112    .1798522
         dummy2_27 |   .1594311   .0229349     6.95   0.000     .1089516    .2099105
         dummy2_28 |   .1109734   .0215464     5.15   0.000     .0635502    .1583966
         dummy2_29 |   .1279122   .0196786     6.50   0.000     .0845998    .1712245
         dummy2_30 |   .0790568   .0185103     4.27   0.001     .0383159    .1197978
         dummy2_31 |   .1365811   .0201182     6.79   0.000     .0923013    .1808609
         dummy2_32 |   .1673545   .0229357     7.30   0.000     .1168734    .2178357
         dummy2_33 |   .1028093    .020915     4.92   0.000     .0567756    .1488429
         dummy2_34 |   .1533278   .0207448     7.39   0.000     .1076687    .1989868
         dummy2_35 |   .1018916   .0207953     4.90   0.000     .0561215    .1476617
         dummy2_36 |   .0770288    .020809     3.70   0.003     .0312286    .1228291
         dummy2_37 |   .1145003   .0217656     5.26   0.000     .0665945    .1624061
         dummy2_38 |    .180493    .019476     9.27   0.000     .1376265    .2233595
         dummy2_39 |   .1571924   .0201709     7.79   0.000     .1127966    .2015882
         dummy2_40 |   .1106456   .0202546     5.46   0.000     .0660655    .1552257
         dummy2_41 |   .1507528    .020875     7.22   0.000     .1048073    .1966983
         dummy2_42 |   .1358565   .0207205     6.56   0.000     .0902509    .1814621
         dummy2_43 |   .1593997   .0193944     8.22   0.000      .116713    .2020864
         dummy2_44 |   .1742057   .0203293     8.57   0.000     .1294613      .21895
         dummy2_45 |    .158919   .0258852     6.14   0.000     .1019461    .2158919
         dummy2_46 |          0  (omitted)
         dummy2_47 |   .1083705   .0228456     4.74   0.001     .0580876    .1586533
         dummy2_48 |   .1453689   .0231392     6.28   0.000     .0944397     .196298
         dummy2_49 |          0  (omitted)
         dummy2_50 |   .1339769   .0255155     5.25   0.000     .0778176    .1901361
         dummy2_51 |  -.1360493    .023406    -5.81   0.000    -.1875655   -.0845332
         dummy2_52 |   .1057072   .0221025     4.78   0.001       .05706    .1543545
         dummy2_53 |   .1723212     .02354     7.32   0.000       .12051    .2241324
         dummy2_54 |   .1256254    .023983     5.24   0.000     .0728393    .1784116
         dummy2_55 |   .1316992   .0238994     5.51   0.000      .079097    .1843014
         dummy2_56 |   .1664152   .0220966     7.53   0.000     .1177809    .2150496
         dummy2_57 |   .1410604   .0242144     5.83   0.000     .0877648    .1943559
         dummy2_58 |   .0885559   .0232546     3.81   0.003     .0373729    .1397389
         dummy2_59 |   .1488414   .0235494     6.32   0.000     .0970096    .2006733
         dummy2_60 |    .277518    .016685    16.63   0.000     .2407945    .3142415
         dummy2_61 |   .1746903   .0170092    10.27   0.000     .1372534    .2121273
         dummy2_62 |   .1836132   .0160714    11.42   0.000     .1482403    .2189862
         dummy2_63 |    .165699   .0166174     9.97   0.000     .1291244    .2022736
         dummy2_64 |   .2943165   .0177029    16.63   0.000     .2553526    .3332804
         dummy2_65 |   .1476984   .0157091     9.40   0.000     .1131229     .182274
         dummy2_66 |   .1747756   .0184021     9.50   0.000      .134273    .2152783
         dummy2_67 |   .1289061   .0305887     4.21   0.001     .0615809    .1962313
         dummy2_68 |   .0097753   .0298697     0.33   0.750    -.0559676    .0755181
         dummy2_69 |   .0941352   .0294584     3.20   0.009     .0292978    .1589726
         dummy2_70 |   .0801772   .0287769     2.79   0.018     .0168397    .1435148
         dummy2_71 |   .1228368   .0305293     4.02   0.002     .0556422    .1900313
         dummy2_72 |   .0983293   .0302707     3.25   0.008     .0317038    .1649547
         dummy2_73 |   .0318369   .0309895     1.03   0.326    -.0363705    .1000443
         dummy2_74 |   .1230505   .0289771     4.25   0.001     .0592723    .1868287
         dummy2_75 |   .1125944    .030155     3.73   0.003     .0462236    .1789652
         dummy2_76 |   .1149964   .0307473     3.74   0.003      .047322    .1826709
         dummy2_77 |   .1041505   .0300799     3.46   0.005     .0379451    .1703559
         dummy2_78 |   .1056333   .0303309     3.48   0.005     .0388754    .1723912
         dummy2_79 |   .1224755   .0306557     4.00   0.002     .0550029    .1899482
         dummy2_80 |   .1160523   .0305502     3.80   0.003     .0488116    .1832929
         dummy2_81 |   .0875722    .030191     2.90   0.014     .0211223     .154022
         dummy2_82 |   .1918984   .0191362    10.03   0.000       .14978    .2340168
         dummy2_83 |   .1605338   .0188634     8.51   0.000     .1190157     .202052
         dummy2_84 |    .158546   .0185288     8.56   0.000     .1177643    .1993277
         dummy2_85 |   .1789963   .0186799     9.58   0.000      .137882    .2201105
         dummy2_86 |   .2163033   .0187028    11.57   0.000     .1751386     .257468
         dummy2_87 |   .1346038   .0197014     6.83   0.000     .0912412    .1779664
         dummy2_88 |   .0928807   .0185755     5.00   0.000     .0519962    .1337652
         dummy2_89 |   .1795312   .0269298     6.67   0.000     .1202591    .2388034
         dummy2_90 |     .04737   .0392409     1.21   0.253    -.0389987    .1337386
         dummy2_91 |   .0619883   .0237813     2.61   0.024     .0096459    .1143306
         dummy2_92 |   .1501686   .0215227     6.98   0.000     .1027974    .1975399
         dummy2_93 |   .1401687   .0231036     6.07   0.000      .089318    .1910195
         dummy2_94 |   .1441476   .0226755     6.36   0.000     .0942392     .194056
         dummy2_95 |   .3272854   .0236634    13.83   0.000     .2752026    .3793683
         dummy2_96 |   .0977055    .022084     4.42   0.001      .049099     .146312
         dummy2_97 |   .1712834   .0215784     7.94   0.000     .1237896    .2187771
         dummy2_98 |   .0632146    .024197     2.61   0.024     .0099574    .1164718
         dummy2_99 |   .0061427   .0219653     0.28   0.785    -.0422026     .054488
        dummy2_100 |   .1837763   .0221414     8.30   0.000     .1350434    .2325091
        dummy2_101 |   .0692194   .0234443     2.95   0.013      .017619    .1208199
        dummy2_102 |  -.1051908   .0223599    -4.70   0.001    -.1544045   -.0559771
        dummy2_103 |   .2097627   .0223491     9.39   0.000     .1605726    .2589527
        dummy2_104 |   .1716982   .0183785     9.34   0.000     .1312475    .2121489
        dummy2_105 |   .1960674   .0194797    10.07   0.000     .1531928     .238942
        dummy2_106 |   .1546906   .0190741     8.11   0.000     .1127088    .1966724
        dummy2_107 |          0  (omitted)
        dummy2_108 |          0  (omitted)
        dummy2_109 |   .2246196   .0186262    12.06   0.000     .1836236    .2656155
        dummy2_110 |          0  (omitted)
        dummy2_111 |   .1351898   .0236241     5.72   0.000     .0831935    .1871861
        dummy2_112 |   .0795467   .0185869     4.28   0.001     .0386372    .1204561
        dummy2_113 |   .1029405    .021867     4.71   0.001     .0548116    .1510693
        dummy2_114 |   .1016382   .0229232     4.43   0.001     .0511846    .1520919
        dummy2_115 |   .1392703   .0229153     6.08   0.000     .0888341    .1897064
        dummy2_116 |   .1121329   .0229235     4.89   0.000     .0616787    .1625872
        dummy2_117 |   .0524194   .0201759     2.60   0.025     .0080126    .0968262
        dummy2_118 |   .1084332    .019802     5.48   0.000     .0648493    .1520171
        dummy2_119 |   .1205373   .0228888     5.27   0.000     .0701593    .1709153
        dummy2_120 |   .1272795   .0236607     5.38   0.000     .0752028    .1793563
        dummy2_121 |   .1182792   .0224211     5.28   0.000     .0689306    .1676278
        dummy2_122 |   .1086048   .0225624     4.81   0.001     .0589454    .1582643
        dummy2_123 |   .0913427   .0221151     4.13   0.002     .0426677    .1400177
        dummy2_124 |   .0822475   .0204332     4.03   0.002     .0372745    .1272206
        dummy2_125 |   .1248853   .0235539     5.30   0.000     .0730435    .1767271
        dummy2_126 |   .1786407    .018584     9.61   0.000     .1377375    .2195438
        dummy2_127 |   .1604987   .0189188     8.48   0.000     .1188588    .2021386
        dummy2_128 |   .1587888   .0187009     8.49   0.000     .1176284    .1999492
        dummy2_129 |   .1744557   .0191275     9.12   0.000     .1323563     .216555
        dummy2_130 |    .243673   .0191066    12.75   0.000     .2016197    .2857264
        dummy2_131 |   .1873433   .0186476    10.05   0.000     .1463002    .2283864
        dummy2_132 |   .1815143   .0189289     9.59   0.000     .1398521    .2231765
        dummy2_133 |   .0787292   .0277532     2.84   0.016     .0176449    .1398135
        dummy2_134 |   -.018639   .0469003    -0.40   0.699    -.1218659    .0845878
        dummy2_135 |    .015085   .0246477     0.61   0.553    -.0391643    .0693343
        dummy2_136 |   .0556673   .0278241     2.00   0.071    -.0055731    .1169077
        dummy2_137 |   .0863811   .0286704     3.01   0.012     .0232779    .1494843
        dummy2_138 |   .0672393   .0270511     2.49   0.030     .0077001    .1267784
        dummy2_139 |          0  (omitted)
        dummy2_140 |   .0531594   .0264061     2.01   0.069    -.0049601    .1112788
        dummy2_141 |   .1126068   .0284763     3.95   0.002      .049931    .1752827
        dummy2_142 |   .1003935   .0290926     3.45   0.005     .0363611    .1644259
        dummy2_143 |   .0620878   .0256329     2.42   0.034     .0056702    .1185055
        dummy2_144 |   .0686651   .0259954     2.64   0.023     .0114496    .1258807
        dummy2_145 |   .0574542   .0244774     2.35   0.039     .0035797    .1113286
        dummy2_146 |   .0766558   .0269236     2.85   0.016     .0173973    .1359143
        dummy2_147 |   .1038385   .0287306     3.61   0.004     .0406029    .1670741
        dummy2_148 |   .1175151   .0145151     8.10   0.000     .0855676    .1494626
        dummy2_149 |  -.0067029   .0021235    -3.16   0.009    -.0113767   -.0020291
        dummy2_150 |   .0880253   .0120316     7.32   0.000     .0615438    .1145067
        dummy2_151 |   .0650178   .0084654     7.68   0.000     .0463857      .08365
        dummy2_152 |   .1240321   .0141873     8.74   0.000      .092806    .1552582
        dummy2_153 |   -.004415   .0077437    -0.57   0.580    -.0214588    .0126289
        dummy2_154 |          0  (omitted)
        dummy2_155 |   .0748438   .0321224     2.33   0.040     .0041429    .1455447
        dummy2_156 |   .1139829   .0355313     3.21   0.008     .0357789    .1921868
        dummy2_157 |   .1012518   .0309427     3.27   0.007     .0331475    .1693561
        dummy2_158 |   .0254247   .0336463     0.76   0.466    -.0486304    .0994798
        dummy2_159 |   .0577511   .0305521     1.89   0.085    -.0094936    .1249959
        dummy2_160 |   .1008474   .0316871     3.18   0.009     .0311045    .1705903
        dummy2_161 |   .2031154   .0289685     7.01   0.000     .1393562    .2668745
        dummy2_162 |   .1109002   .0303683     3.65   0.004     .0440601    .1777403
        dummy2_163 |   .0732327   .0301768     2.43   0.034      .006814    .1396514
        dummy2_164 |   .1000373   .0316934     3.16   0.009     .0302807     .169794
        dummy2_165 |   .0939055   .0310996     3.02   0.012     .0254558    .1623552
        dummy2_166 |   .0965574   .0305693     3.16   0.009     .0292748    .1638401
        dummy2_167 |  -.0409318   .0454499    -0.90   0.387    -.1409664    .0591029
        dummy2_168 |   .0592229   .0321699     1.84   0.093    -.0115826    .1300284
        dummy2_169 |   .0940269   .0319128     2.95   0.013     .0237874    .1642665
        dummy2_170 |   .1939669   .0198101     9.79   0.000     .1503652    .2375686
        dummy2_171 |   .1458825   .0193773     7.53   0.000     .1032333    .1885317
        dummy2_172 |   .1437559   .0190799     7.53   0.000     .1017612    .1857505
        dummy2_173 |   .1609957   .0194543     8.28   0.000     .1181771    .2038143
        dummy2_174 |   .2333071   .0203407    11.47   0.000     .1885375    .2780767
        dummy2_175 |   .1606453   .0195624     8.21   0.000     .1175888    .2037018
        dummy2_176 |    .145235   .0192121     7.56   0.000     .1029494    .1875206
        dummy2_177 |   .1203363   .0267716     4.49   0.001     .0614123    .1792602
        dummy2_178 |   .0012095   .0344393     0.04   0.973    -.0745908    .0770098
        dummy2_179 |   .1440537   .0237532     6.06   0.000     .0917734    .1963341
        dummy2_180 |   .1240459   .0235292     5.27   0.000     .0722584    .1758335
        dummy2_181 |   .0904886   .0246922     3.66   0.004     .0361414    .1448358
        dummy2_182 |   .1410705   .0248429     5.68   0.000     .0863917    .1957492
        dummy2_183 |   .0898756    .022113     4.06   0.002     .0412053    .1385459
        dummy2_184 |   .0983952   .0232403     4.23   0.001     .0472437    .1495466
        dummy2_185 |   .1276721   .0242376     5.27   0.000     .0743255    .1810187
        dummy2_186 |   .1278198   .0252418     5.06   0.000     .0722629    .1833767
        dummy2_187 |   .1351961   .0246748     5.48   0.000     .0808873    .1895049
        dummy2_188 |   .1019988   .0228421     4.47   0.001     .0517238    .1522738
        dummy2_189 |   .1003335   .0232425     4.32   0.001      .049177      .15149
        dummy2_190 |   .0718333   .0225611     3.18   0.009     .0221767    .1214899
        dummy2_191 |   .1091476   .0251402     4.34   0.001     .0538143    .1644809
        dummy2_192 |   .1970881   .0173428    11.36   0.000     .1589167    .2352594
        dummy2_193 |   .1521693   .0166473     9.14   0.000     .1155289    .1888096
        dummy2_194 |   .1404648    .016214     8.66   0.000     .1047781    .1761515
        dummy2_195 |          0  (omitted)
        dummy2_196 |          0  (omitted)
        dummy2_197 |   .2190307   .0159279    13.75   0.000     .1839736    .2540878
        dummy2_198 |   .1579418   .0162919     9.69   0.000     .1220835    .1938001
        dummy2_199 |   .0886747   .0353612     2.51   0.029     .0108452    .1665043
        dummy2_200 |  -.0177088   .0362663    -0.49   0.635    -.0975303    .0621127
        dummy2_201 |   .0528186   .0341545     1.55   0.150    -.0223549    .1279921
        dummy2_202 |  -.0078005   .0360761    -0.22   0.833    -.0872035    .0716025
        dummy2_203 |   .1090864   .0350659     3.11   0.010     .0319068     .186266
        dummy2_204 |   .0768269   .0351572     2.19   0.051    -.0005535    .1542073
        dummy2_205 |    .032011    .030999     1.03   0.324    -.0362174    .1002393
        dummy2_206 |   .0509632     .03374     1.51   0.159    -.0232981    .1252245
        dummy2_207 |   .0631408     .03379     1.87   0.089    -.0112304     .137512
        dummy2_208 |   .0827776   .0347783     2.38   0.036     .0062311    .1593241
        dummy2_209 |   .0482124   .0342661     1.41   0.187    -.0272068    .1236315
        dummy2_210 |   .0755289   .0340682     2.22   0.049     .0005453    .1505126
        dummy2_211 |   .1608204   .0335817     4.79   0.001     .0869076    .2347332
        dummy2_212 |    .082916   .0346282     2.39   0.036     .0066998    .1591321
        dummy2_213 |   .1115545   .0341507     3.27   0.008     .0363892    .1867197
        dummy2_214 |   .1374205   .0216263     6.35   0.000     .0898214    .1850196
        dummy2_215 |   .1453572   .0217203     6.69   0.000     .0975512    .1931632
        dummy2_216 |   .1626861    .021511     7.56   0.000     .1153406    .2100315
        dummy2_217 |   .1474859    .021518     6.85   0.000      .100125    .1948468
        dummy2_218 |   .1853007   .0216162     8.57   0.000     .1377238    .2328775
        dummy2_219 |   .1368501   .0213404     6.41   0.000     .0898801    .1838201
        dummy2_220 |   .1377961   .0213807     6.44   0.000     .0907375    .1848546
        dummy2_221 |   .0933238   .0393546     2.37   0.037      .006705    .1799427
        dummy2_222 |   .0570767     .03855     1.48   0.167    -.0277713    .1419247
        dummy2_223 |   .0753748   .0381217     1.98   0.074    -.0085304    .1592801
        dummy2_224 |   .0771474   .0381762     2.02   0.068    -.0068777    .1611726
        dummy2_225 |   .0675553    .038253     1.77   0.105    -.0166389    .1517495
        dummy2_226 |   .0838315   .0386128     2.17   0.053    -.0011548    .1688177
        dummy2_227 |   .0576511   .0371328     1.55   0.149    -.0240777    .1393799
        dummy2_228 |   .0763349   .0381269     2.00   0.071    -.0075819    .1602517
        dummy2_229 |   .0783443   .0383372     2.04   0.066    -.0060353     .162724
        dummy2_230 |   .1075291   .0390216     2.76   0.019     .0216431    .1934151
        dummy2_231 |   .0991948   .0381603     2.60   0.025     .0152045    .1831851
        dummy2_232 |   .0902066   .0380089     2.37   0.037     .0065495    .1738637
        dummy2_233 |   .0683596   .0393911     1.74   0.111    -.0183396    .1550587
        dummy2_234 |   .0699147    .038795     1.80   0.099    -.0154725    .1553019
        dummy2_235 |   .0701546   .0385542     1.82   0.096    -.0147027    .1550119
        dummy2_236 |    .144228   .0263004     5.48   0.000     .0863413    .2021147
        dummy2_237 |   .1434791   .0259155     5.54   0.000     .0864396    .2005187
        dummy2_238 |   .1350903   .0255074     5.30   0.000     .0789489    .1912318
        dummy2_239 |   .1587437   .0255461     6.21   0.000     .1025171    .2149703
        dummy2_240 |   .1899828   .0257293     7.38   0.000     .1333529    .2466127
        dummy2_241 |   .1416417   .0274589     5.16   0.000     .0812051    .2020784
        dummy2_242 |   .1355984   .0254642     5.33   0.000     .0795521    .1916447
        dummy2_243 |   .0938727   .0399068     2.35   0.038     .0060383    .1817071
        dummy2_244 |   .0227143   .0385981     0.59   0.568    -.0622394    .1076681
        dummy2_245 |   .0856802   .0386897     2.21   0.049     .0005246    .1708357
        dummy2_246 |   .1003671   .0384272     2.61   0.024     .0157894    .1849449
        dummy2_247 |   .0753194   .0390101     1.93   0.080    -.0105412    .1611801
        dummy2_248 |   .1000271   .0390657     2.56   0.026      .014044    .1860102
        dummy2_249 |   .1466815   .0394601     3.72   0.003     .0598304    .2335326
        dummy2_250 |   .0694778   .0388182     1.79   0.101    -.0159604     .154916
        dummy2_251 |   .1011808   .0388875     2.60   0.025     .0155901    .1867715
        dummy2_252 |   .0918495    .039375     2.33   0.040     .0051858    .1785132
        dummy2_253 |    .099898   .0387205     2.58   0.026     .0146748    .1851212
        dummy2_254 |   .0970105   .0387496     2.50   0.029     .0117232    .1822978
        dummy2_255 |   .1884692   .0397408     4.74   0.001     .1010002    .2759381
        dummy2_256 |   .1147331   .0392177     2.93   0.014     .0284154    .2010507
        dummy2_257 |   .1003507   .0387942     2.59   0.025     .0149652    .1857362
        dummy2_258 |   .1424279   .0250249     5.69   0.000     .0873485    .1975074
        dummy2_259 |   .1184543    .023626     5.01   0.000     .0664538    .1704547
        dummy2_260 |   .1405247   .0237138     5.93   0.000     .0883309    .1927185
        dummy2_261 |   .1527154   .0233339     6.54   0.000     .1013579     .204073
        dummy2_262 |    .156162   .0236463     6.60   0.000     .1041168    .2082073
        dummy2_263 |   .1315317    .026916     4.89   0.000       .07229    .1907734
        dummy2_264 |   .1272627   .0232217     5.48   0.000     .0761522    .1783733
             _cons |  -.1098838   .0598433    -1.84   0.093     -.241598    .0218304
------------------------------------------------------------------------------------

. eststo table6_manserv

. 
. esttab table6_over table6_lo_int table6_enfc_int table6_ROL_int table6_LS_int table6_manserv using "BCDVS_95_4_2013tables.
> csv", append label  nodepvar star(* 0.10 ** 0.05 *** 0.01) se r2 drop(y_* dummy* ind_*) compress csv
(output written to BCDVS_95_4_2013tables.csv)

. 
. log close
      name:  <unnamed>
       log:  D:\users\TD\TD work\PAPERS\TFP comp policy\econometrics\REStatcodes\BCDVS_95_4_2013regressions.log
  log type:  text
 closed on:  28 Mar 2014, 18:31:53
----------------------------------------------------------------------------------------------------------------------------
